President Donald Trump announces 100% China tariffs

(CNN)– President Donald Trump said he will impose an additional 100% tariff on Chinese exports to the United States.

That’s on top of the existing 30% tariffs already in effect.

In a Truth Social post Friday, Trump said the tariffs will take effect November 1st or sooner.

The president also said the U.S. will impose export controls on any and all critical software.

Trump’s actions are in response to China ramping up export controls on critical rare earth minerals which are needed to produce many electronics.