US President Donald Trump has issued a strong warning to China, threatening to impose tariffs of up to 155 per cent starting the 1st of next month if a new trade deal is not reached.
Speaking at the White House during a meeting with Australian Prime Minister Anthony Albanese, President Trump said China is already paying tariffs of 55 per cent on its exports to the US and that the rate could rise sharply unless an agreement is finalised.
President Trump stated that while trade tensions remain, China has been very respectful of the US and is paying tremendous amounts of money. China’s paying 55 per cent and a potential 155 per cent come 1st November, unless they make a deal, he added.
The US President confirmed he will meet Chinese President Xi Jinping in South Korea and expressed hope for a fair and mutually beneficial outcome.
Earlier, in a post on Truth Social, Trump announced an additional 100 per cent tariff on Chinese goods, effective the 1st of next month, on top of existing duties. He also revealed that export controls will be placed on all critical software starting the same day.
