Trump Slams China with 100% Tariffs Over Rare Earth Mineral Restrictions

Breaking News: Trump Fires Back at China's Rare Earth Mineral Restrictions with 100% Tariffs In a bold move, President Donald Trump announced on Friday that he will impose a 100% tariff on all imports from China, effective immediately. This drastic measure comes in response to China's recent announcement of tightened export controls on rare earth minerals, which are critical components in the production of semiconductors and solar panels. Timeline: Friday: Trump announces 100% tariffs on Chinese imports via Truth Social post Earlier this week: China tightens export controls on rare earth minerals Immediate Impact: The new tariff will be applied over and above any existing tariffs already imposed on Chinese imports, which currently stand at a base rate of 40%. This means that all goods imported from China will face a total tariff of 140% or higher. The move is expected to have significant implications for the global tech industry, particularly those reliant on rare earth minerals. Background Context: Rare earth minerals are essential components in the production of high-tech products such as semiconductors, solar panels, and wind turbines. China is the world's largest producer of these minerals, accounting for over 90% of global supply. The country's recent export controls have sparked concerns among tech companies and industry experts. What Happens Next: As tensions between the US and China continue to escalate, it remains to be seen how this latest development will play out. Tech companies reliant on rare earth minerals may need to explore alternative suppliers or adjust their production processes to mitigate the impact of the tariffs. The global tech industry is bracing for a potential disruption in supply chains, which could have far-reaching consequences for innovation and economic growth. In a statement, Trump described China's export controls as "absolutely unheard of" in international trade and a "moral disgrace." The move marks a significant escalation in the ongoing trade conflict between the US and China. *This story is developing. Information compiled from Techcrunch reporting.*