President Trump announced on Truth Social that the U.S. will impose a 100% tariff on Chinese goods starting November 1, 2025, in response to China’s “extraordinarily aggressive” new export controls affecting multiple countries.

He warned the timeline could be moved up depending on China’s reaction and said export controls targeting China’s access to “critical software” would take effect the same day.

Trump also cited China’s recent restrictions on rare earth mineral exports, new port fees on U.S. ships, an antitrust probe of Qualcomm, and halted U.S. soybean purchases as signs of hostility.

The announcement followed his earlier threat to cancel a planned meeting with Chinese President Xi Jinping, Yahoo Finance has reported.

U.S. stocks fell after the tariff warning, while existing tariffs of up to 145% on Chinese goods remain on hold until November 10 amid ongoing trade negotiations.