Trump warns China of "a potential" 155 pc tariff from Nov 1 over trade deal

US President Donald Trump on Monday local time issued a stern warning to China on the possibility of imposing a steep tariff of up to 155 per cent starting November 1 if a trade deal is not reached between the two countriesSpeaking at the White House during a highlevel meeting with Australian Prime Minister Anthony Albanese Trump despite the trade tensions between the two nations stated that Beijing has been very respectful of Washington and that they are paying tremendous amounts of money on the backs of the 55 per cent tariffs levied on their goods to the USI think Chinas 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 thats a lot of money Trump said The US President also added that many countries had previously taken advantage of the United States but emphasised that such practices were no longer toleratedA lot of countries took advantage of the US and they are not able to take advantage anymore Chinas paying 55 per cent and a potential 155 per cent come November 1st unless we make a deal he said Trump further mentioned his upcoming meeting with Chinese President Xi Jinping in South Korea expressing optimism about their relationship and the possibility of reaching a mutually beneficial trade agreementI am meeting with President Xi We have a very good relationship we are going to be meeting in South Korea in a couple of weeks I think we are going to work out something which is good for both the countries the US President noted Looking ahead to meeting in South Korea with Xi Jinping Trump emphasised hopes for a fair and mutually beneficial agreementI think when we finish our meetings in South Korea China and I will have a really fair and really great trade deal together I want them to buy soybeans Its going to be fantastic for both countries and its going to be fantastic for the entire world he statedHis remarks came during his meeting with Australian PM Anthony Albanese at the Oval Office where both leaders signed a multibillion dollar agreement on critical minerals and defence cooperation with Albanese underscoring the scale of the collaboration stating USD 85 billion is in the pipelineThe agreements were the result of months of negotiations and are expected to significantly enhance supplychain security energy independence and military cooperation between the two allies Earlier Trump in a post on Truth Social announced an additional 100 per cent tariff on Chinese goods over and above any tariff that they are currently paying effective November 1The US President noted that the decision was taken after what he described as China taking an extraordinarily aggressive position on trade by sending an extremely hostile letter to the world He also said that export controls will be placed on all critical software starting the same dayBased on the fact that China has taken this unprecedented position and speaking only for the USA and not other Nations who were similarly threatened starting November 1 2025 or sooner depending on any further actions or changes taken by China the United States of America will impose a Tariff of 100 per cent on China over and above any Tariff that they are currently paying Also on November 1 we will impose Export Controls on any and all critical software his post readIt has just been learnt that China has taken an extraordinarily aggressive position on trade in sending an extremely hostile letter to the world stating that they were going to effective November 1 2025 impose largescale Export Controls on virtually every product they make and some not even made by them This affects ALL Countries without exception and was obviously a plan devised by them years ago It is absolutely unheard of in International Trade and a moral disgrace in dealing with other Nations it addedMeanwhile Trump during his meeting with the Australian PM revealed plans to visit China early next year following an invitation from Chinese leadership Ive been invited to go to China And Im going to be doing that sometime fairly early next year he saidThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever