A: Hey there! Guess what's going on?
B: What is it, friend? I haven't heard any news lately.

A: Well, Trump just announced a 100% tariff on all imports from China! Plus, he's putting export controls on critical American software.
B: Whoa, that sounds serious! This is about the trade conflict with China, right?

A: Exactly! And get this, earlier this week, China tightened its control over rare earth minerals. They want foreign companies to apply for a license if they want to export anything with even a tiny bit of those minerals. Those minerals are important for tech stuff like semiconductors and solar panels.
B: Man, that's really escalating things... And Trump said China's move is "absolutely unheard of" in international trade and a "moral disgrace."

A: Yeah, he called it a "history" already. The tariffs are supposed to take effect on November 1st, but Trump said they could still be changed. He might even meet with President Xi Jinping as planned.
B: This is making stocks go down! The Dow Jones and S&P 500 dropped, and tech companies like Nvidia and Tesla were hit hard. Even crypto markets took a hit!

A: That's right! It was so bad that liquidations were reportedly ten times higher than during the FTX collapse.
B: Wow, this is really affecting things globally... I hope it gets resolved soon. Let's keep an eye on it!