Tariff War Far From Over: Trump slaps 100% additional duty on China from Nov 1 or sooner

​If you thought the US-triggered tariff wars will subside anytime soon, you couldn't have been more wrong! In a significant development, US President Donald Trump on Friday announced a fresh 100 per cent tariff on all Chinese goods, in addition to any existing levies on specific categories.

The latest announcement, made after the market hours on Wall Street, comes at a time when what Trump describes as "reciprocal tariffs" and the subsequent trade-related levies by America's trade partners has kept investors on edge for months. Many financial experts have criticised Trump's tariffs, citing concerns about the trade war's ill effects on the world's largest as well as other major economies.

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When will additional 100% US tariff on Chinese products take effect?

The levy will come into force from November 1 "or sooner, depending on any further action or changes taken by China", said Trump.

China has taken extraordinarily aggressive position on trade: Trump

Trump claimed to have learned about China taking an "extraordinarily aggressive position on trade in sending an extremely hostile letter to the world". According to him, China has threatened ro impose "large scale export controls on virtually every product they make" and "some not even made by them", effective November 1.

"This affects ALL Countries, without exception, and was obviously a plan devised by them years ago. It is absolutely unheard of in International Trade, and a moral disgrace in dealing with other Nations," he wrote on Truth Social.

US stands ready for trade war

US Trade Ambassador Jamieson Greer said America is ready for a trade war and "fully prepared" for an economic confrontation with Beijing.

"It is impossible to believe that China would have taken such an action, but they have, and the rest is History. Thank you for your attention to this matter!" Trump signed out.

The latest announcements added to growing uncertainty about Trump's meeting with his Chinese counterpart originally scheduled by the end of October.

The US president also mentioned export controls on critical software, effective November 1, without elaborating.