Trump is out with an announcement on tariffs:
It has simply been realized that China has taken a very aggressive place on Commerce in sending an especially hostile letter to the World, stating that they had been going to, efficient November 1st, 2025, impose giant scale Export Controls on nearly each product they make, and a few not even made by them. This impacts ALL International locations, with out exception, and was clearly a plan devised by them years in the past. It’s completely unparalleled in Worldwide Commerce, and an ethical shame in coping with different Nations.
Based mostly on the truth that China has taken this unprecedented place, and talking just for the usA., and never different Nations who had been equally threatened, beginning November 1st, 2025 (or sooner, relying on any additional actions or adjustments taken by China), america of America will impose a Tariff of 100% on China, over and above any Tariff that they’re at present paying. Additionally on November 1st, we’ll impose Export Controls on any and all essential software program.
It’s inconceivable to consider that China would have taken such an motion, however they’ve, and the remaining is Historical past. Thanks on your consideration to this matter!
DONALD J. TRUMP
PRESIDENT OF THE UNITED STATES OF AMERICA
There may be some further yen shopping for on the announcement, which is minutes earlier than the FX market closes. USD/JPY sank an extra 50 pips and S&P 500 futures fell 0.5% additional.
The one notably caveat right here is the November 1 date, which sounds prefer it leaves loads of time to make a deal.
