Kathmandu. US President Donald Trump has announced that he will impose 100% tariffs on Chinese imports from November 1.
In a post on Truth Social on Friday, Trump said the US would also regulate the export of essential software. This week, China tightened controls on rare earth mineral exports. Trump accused China of adopting a “very hostile” attitude and trying to “subjugate” the world.
Trump threatened to pull out of his meeting with Chinese President Xi Jinping. However, Trump said, “I have not canceled it. ’
The stock market plunged after Trump’s remarks. China refines about 90% of the world’s rare earth minerals. It is used in everything from solar panels to smartphones.
Rare earth minerals are a group of 17 metallic elements. Which are essential for many high-tech products.
