President Trump announced new tariffs on Chinese imports effective November 1, in response to China’s plans for export controls on various goods. The tariffs, set at 100%, will compound existing duties on Chinese products. This move comes after China announced restrictions on rare-earth materials, intensifying the ongoing trade dispute between the two nations. Although there had been discussions for a potential trade agreement, these developments jeopardize that progress. China has urged the U.S. to correct its approach to negotiations, indicating that it may take measures to protect its interests if tensions escalate.

Source: https://www.supplychaindive.com/news/trump-tariffs-china-nov-1-rare-earth-export-controls/802653/