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'Potential 155% tariffs, unless...': Trump's warning to China over ‘fair trade deal’
Donald Trump pointed out that Washington had worked out a trade deal with several countries, who he said were “earlier taking advantage” of the US.
US President Donald Trump on Monday threatened China on trade tariffs, saying that he would impose 155 percent levies on China if Xi Jinping signed a fair deal with Washington.
The statement came as Trump signed a critical minerals agreement with the Australian Prime Minister Anthony Albanease at the White House.
"I think China’s been very respectful of us. They’re paying tremendous amounts of money to us in the form of tariffs. As you know, they’re paying 55% — that's a lot of money... China’s paying 55% and a potential 155% come November 1st unless we make a deal," Trump said before his bilateral talks with Albanease.
The Republican pointed out that Washington had worked out a trade deal with several countries, who he said were “earlier taking advantage” of the US. “Not anymore,” the MAGA leader said.
“I expect we will probably work out a very fair trade deal with President Xi of China. I think most of you will be there. It will be very exciting,” Trump added.
Donald Trump's earlier jike in China tariffs
Donald Trump had earlier announced 100 per cent tariff on goods from China, along with new export controls on "any and all critical software" by November 1. This would top the 55 percent levies that already exist on the goods that Beijing exports to Washington.
Speaking to reporters on Sunday (local time), Trump said, “I have a very good relationship with President Xi of China. We're having disputes on things. They're paying us a tremendous amount of money in tariffs. And they'd probably like to have it be less. And we'll work on that. But they have to give us some things too.”
“You know, they paid a lot during my first administration, my first term. Now they're paying an unbelievable amount of money to the United States. They probably can't pay that much. And I'm okay with that. We can lower that. But they have to do things for us too. It's no longer a one-way street,” he added.
Prior to these comments, US treasury secretary Scott Bessent said that China and the US will hold talks later this week in Malaysia, days after Trump reportedly planned to cancel his first face-to-face meeting with China’s President Xi Jinping since he returned to the White House.
