155% tariffs unless...: Trump's fresh warning to China over fair trade deal

US President Donald Trump on Monday warned that China could face tariffs as high as 155 per cent unless President Xi Jinping signs a fair deal with Washington, reigniting tensions over trade policy between the world’s two largest economies.

Speaking at the White House during a bilateral meeting with Australian Prime Minister Anthony Albanese, Trump said Beijing had been very respectful toward the US but reiterated that his administration would not tolerate unfair trade practices.

"I think China’s been very respectful of us. They are paying tremendous amounts of money to us in the form of tariffs. As you know, they are paying 55 per cent, that’s a lot of money," Trump said, before warning that new levies could be imposed. "China’s paying 55 per cent and a potential 155 per cent come November 1st unless we make a deal."

The US President, who has long touted tariffs as a diplomatic weapon, said many nations had taken advantage of the US in the past but insisted that era was over. "A lot of countries took advantage of the US, and they are not able to take advantage anymore," he said.

TRUMP REITERATES PLAN TO RAISE CHINA TARIFFS

Trump had earlier announced plans to impose 100 per cent tariffs on Chinese goods, in addition to introducing new export restrictions on "any and all critical software" starting November 1. The proposed duties would come on top of the existing 55 per cent tariffs already placed on products imported from China to the United States.

The announcement signalled Trump’s intent to tighten Washington’s trade stance against Beijing, further escalating tensions between the world’s two largest economies.

Trump confirmed he would soon meet Xi in South Korea. "We have a very good relationship; we are going to be meeting in South Korea in a couple of weeks... I think when we finish our meetings, China and I will have a really fair and really great trade deal together," he said, adding that such an agreement would be fantastic for both countries and for the entire world.

Ahead of Trump’s warning, US Treasury Secretary Scott Bessent said the US and China will hold discussions in Malaysia this week, even as reports indicated that Trump briefly considered cancelling his first face-to-face meeting with Xi Jinping since his return to the White House.

- Ends

With inputs from agencies

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