Trump also added that from November 1, the country will impose Export Controls on critical software import from China. These are legislations that exporting country implements to restrict the goods, software, and technology sent and shared with other countries.
“Also on November 1st, we will impose Export Controls on any and all critical software. It is impossible to believe that China would have taken such an action, but they have, and the rest is History,” he added in his Friday post.
Trump said the move is aimed at countering the reported anticipated “aggressive stance” of China on global trade by imposing export restrictions on a range of China-made products.
“It has just been learned that China has taken an extraordinarily aggressive position on Trade in sending an extremely hostile letter to the World, stating that they were going to, effective November 1st, 2025, impose large scale Export Controls on virtually every product they make, and some not even made by them. 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 said.
This follows the U.S. imposing 50% tariffs on Indian exports after Trump cited India’s growing proximity to Russia.
Following the announcement, U.S. markets slipped on fears of another trade clash with China. The Dow Jones ended 878.82 points lower (1.9%) at 45,479.60, while the S&P 500 dropped 2.71% to 6,552.51. The Nasdaq also slid 3.56% to 22,204.43.