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Trump Slaps 100% Tariff

Trump Slaps 100% Tariff

Trump slapped a 100% tariff on China as well as export controls.

Ankit Sinha
October 13, 2025

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🎯 In this issue:

Banana Bits: Finance headlines that actually matter
Market Summary: Stocks tumble as Trump slaps 100% tariff on China
What’s Ripe / Rotten: The tastiest and most disgusting stocks
Technical Trip: Interview Question with J.P. Morgan
Deal Dispatch: M&A, IPOs, and other transactions
The Daily Poll: See how you stack up

Market Snapshot

📉 Banana Bits

Trump slapped a 100% tariff on China as well as export controls.
Major indexes drop the most in six months after Trump’s trade tensions with China.
Vance not backing down: says U.S. holds more cards in U.S.-China tensions.
U.S. moves to ban Chinese airline Loophole for shorter trips.
U.S. consumer sentiment remains subdued on job and price concerns.
Third-largest stablecoin briefly loses dollar peg in Cr*pto rout.
U.S. initial jobless claims rise to 235,000 in Goldman analysis.
U.S. corporate debt valuation is soaring amid rising risk for treasuries.

Market Recap

Trump’s 2 Trillion Decision

Friday morning seemed to be a chill day for investors, with the S&P 500 just a couple of points shy of another record high.

It was then at 10:57 am that Trump announced through Truth Social that China is holding the world “Captive” with its “Monopoly” on these crucial sources, and consequently slapped a 100% tariff.

The market reacted badly, with the S&P 500 dropping 2.7%, the Nasdaq 100 sinking 3.5%, and the so-called Mag-7 index plunging 3.8%.

Source

The market’s sour reaction coincided with investors expecting the U.S.-China deal to work out, or at least to smooth things over with both parties having a meeting at the upcoming Asia-Pacific Economic Cooperation (APEC) summit at the end of this month. The market had also become comfortable with the around 40% tariff rate already applied to China.

Source

What's Ripe

Eightco Holdings Inc. (ORBS) 16.6%

ORBS rose 17% after the technology investment company announced a pilot program to advance artificial-intelligence authentication for enterprises.
Eightco said the initiative will develop approaches to address identity and verification challenges brought about by the expansion of AI.

MP Materials Corp. (MP) 8.4%

MP soared in Friday trading after Trump issued his Tariff threat, leading the stock to hit a 52-week high.
Peer USA Rare Earth also rose 5% after the announcement.

What's Rotten

Venture Global Inc. (VG) 24.9%

Venture Global sank 25% after the U.S.-based natural gas exporter lost an arbitration case against its customer, BP.
The British oil company and several other customers accused Venture Global of withholding contracted liquefied natural gas cargoes and instead selling them on the spot market to benefit from a surge in prices that was driven by the war in Ukraine.

Qualcomm Inc. (QCOM) 7.3%

QCOM declined 7.3% as China launched an investigation into the chip company for suspected violations of the country’s antimonopoly law.
The investigation involves the takeover of Israeli start-up Autotalks, which Qualcomm acquired in June.