US President Donald Trump reacted strongly to China’s decision to impose export restrictions, announcing that he would impose 100% tariffs on top of existing tariffs and stating that he would not meet with Chinese President Xi Jinping. However, Trump has softened his stance in recent statements.
Trump stated today, “The meeting with Xi has not been canceled,” indicating that potential contact between the two leaders has not been completely ruled out. He also said that “other options for export controls may be considered.” However, Trump also stated, “I don’t know if I will meet with Xi.”
In a post on Truth Social the day before, Trump noted that China had announced that it would impose comprehensive export restrictions on “virtually all products” starting November 1, 2025, calling the decision “unprecedented in the history of international trade and morally shameful.” In his post, Trump also announced that in response to China’s move, the US would impose 100% additional tariffs on China starting November 1 and impose export controls on all critical software.
*This is not investment advice.