Trump imposes extra 100 PERCENT tariff on China sparking frantic Wall Street sell-off

Donald Trump has announced another 100 percent tariff on all Chinese goods, on top of the duties brutally escalated in the president’s trade war.

Trump said China had threatened to ‘impose large-scale export controls on almost every product it produces’ and in response the US would ‘impose 100 percent tariffs on China on top of all the tariffs they currently pay’.

The President said that export controls will also be applied to critical software as of November 1, the same day.

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

Trump had previously mocked the tariff on Truth Social, sparking a wild sell-off on Wall Street and the biggest one-day drop in the S&P500 since the so-called Independence Day tariffs on April 10.

Stocks fell towards the close, and the Dow closed down 1.9 percent; The S&P fell 2.71 percent and the tech-heavy Nasdaq fell 3.56 percent.