Trump announces additional tariffs on China, to begin November 1
US President Donald Trump hit markets with a fresh tariff threat on Friday, continuing his lashout at China over their decision to impose even stricter export licensing requirements on foreign entities trying to move critical rare earths minerals out of China.
Donald Trump declared via social media post that he will be imposing a new 100% tariff on all exports bound for the US from China, as Trump's bespoke playbook of hammering his own constituents to punish foreign nations continues to play out.
How the Trump administration will achieve a new import tariff remains to be solved by other people within the Trump team. The US government is currently in shutdown mode after the Senate failed to agree on how to fund federal operations, making it difficult to both charge and collect new trade taxes at the border.
Global markets are currently in shutdown mode, with American exchanges going dark for the Columbus Day long weekend. However, Treasury yields spiked heading into the close, and investors will be coming back to a very different sentiment outlook on Tuesday.
Source: Fxstreet.com
