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US-China Trade War Escalates: Trump Imposes 100% Tariff Amid Resource Control Battle
Donald Trump announced a 100% tariff on Chinese imports as the US-China trade war intensifies, marking a critical escalation in the battle for global resource control.
- On October 10, Donald Trump declared a 100% tariff on Chinese imports, set to take effect on November 1, raising total US duties on Chinese goods over 130%.
- This tariff announcement comes after Beijing imposed restrictions on the export of rare earth metals, crucial for technology and energy sectors, escalating the China–United States trade war.
- India may face indirect consequences as the US-China tensions disrupt global supply chains, impacting stock markets and trade dynamics across Asia and beyond.
Why It Matters
This escalation in the China–United States trade war signifies a shift from mere economic competitiveness to a struggle for control over essential resources and technologies, affecting global trade stability.