President Donald Trump announced on Friday that he will impose 100% tariffs on China, and charged that the Chinese government has adopted an “extremely hostile” trade stance by wanting to impose controls on the export of rare earths.

Trump announced on Truth Social that he would impose a 100% tariff on Chinese products from November 1st or before. These tariffs will replace tariffs already in place on Chinese goods.

President Trump stated that his administration would also impose export controls on all critical software.

“It is impossible to believe that China would take such an action, but they did, and the rest is history,” Trump posted.

China announced this week that foreign entities must obtain a license to export any product containing more than 0.1% rare earths, whether they are of Chinese origin or manufactured through the country’s extraction process.

China controls approximately 70% of the world’s rare earth metals and rare earths.

Rare earth and critical minerals are used in numerous products, including automobiles, semiconductors, and electronics like laptops.

Trump, in his post on Truth Social, called China’s move “absolutely unprecedented in international trade and a moral disgrace in dealing with other nations.”

Earlier on Friday, Trump had threatened to countermeasures in response to Beijing's announcement and suggested that he might not meet with Chinese President Xi Jinping during an upcoming summit in South Korea as planned.