US President Donald Trump on Friday threatened to impose further 100 per cent tariffs on Chinese products from November 1 after China restricted exports of rare earth minerals.“Based on the fact that China has taken this unprecedented position… the United States of America will impose a Tariff of 100% on China, over and above any Tariff that they are currently paying,” Trump said on Truth Social.This comes soon after Trump’s previous post in which he called China’s restrictions “very hostile” and criticised the country for sending letters to nations worldwide outlining controls on “each and every element of production having to do with Rare Earths.” He said, “There is no way that China should be allowed to hold the World ‘captive.’”Trump also questioned his plans to meet Chinese President Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) summit later this month in South Korea. “I was to meet President Xi in two weeks, at APEC, in South Korea, but now there seems to be no reason to do so,” he said.He warned that the tariffs could be “massive,” potentially reigniting the trade war between Washington and Beijing.The announcement triggered a sharp sell-off on Wall Street, with the Nasdaq down two percent and the dollar weakening against major currencies.Beijing’s ministry of commerce announced the new rules on Thursday, requiring special approval for any exports of rare earth elements or products that contain even trace amounts of them. China, which dominates global rare earth production and processing, said the curbs are meant to “safeguard national security.” The restrictions are likely to impact key industries, from defence to electronics, that depend on the minerals.There was no immediate reaction from Beijing.