Donald Trump has warned China of steep 155 per cent tariffs unless it agrees to a “fair” trade deal, even as he confirmed plans to meet Xi Jinping soon to resolve ongoing disputes.
US President Donald Trump on Monday cautioned that tariffs as high as 155 per cent could be imposed on Chinese goods from November 1 unless President Xi Jinping signs what he described as a “fair deal” with Washington.
The remarks have reignited tensions between the world’s two largest economies over trade policy.
The warning came as Trump signed a critical minerals agreement with Australian Prime Minister Anthony Albanese at the White House. The deal forms part of broader efforts by the US to strengthen supply chains and reduce dependence on China for key materials.
“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 per cent, that’s a lot of money... China’s paying 55 per cent and a potential 155 per cent come November 1 unless we make a deal,” Trump said before his bilateral talks with Albanese.
The Republican leader emphasised that the United States had already worked out trade agreements with several nations that had “earlier taken advantage” of Washington.
“Not anymore,” he added. “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, who has long viewed tariffs as a key diplomatic tool, reiterated that his administration would not tolerate unfair trade practices. “A lot of countries took advantage of the US, and they are not able to take advantage anymore,” he said.
His comments came amid reports that China did not import a single shipment of US soybeans in September, marking the first such halt since November 2018. Chinese buyers reportedly turned to South American suppliers amid continuing trade tensions.
Earlier, Trump had announced plans to impose 100 per cent tariffs on Chinese goods and introduce new export restrictions on “any and all critical software” starting November 1. The proposed duties would be added to the existing 55 per cent tariffs already applied to Chinese imports.
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Speaking to reporters on Sunday (local time), Trump said he maintained a “very good relationship” with Xi despite current disputes.
“We’re having disputes on things. They’re paying us a tremendous amount of money in tariffs. They’d probably like to have it be less, and we’ll work on that. But they have to give us some things too,” he said.
“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.
Trump confirmed that he would soon meet Xi in South Korea, saying, “We have a very good relationship... I think when we finish our meetings, China and I will have a really fair and really great trade deal together, one that will be fantastic for both countries and for the entire world.”
Before Trump’s remarks, US Treasury Secretary Scott Bessent said that US and Chinese officials would hold discussions in Malaysia this week. Reports also indicated that Trump had briefly considered cancelling his first face-to-face meeting with Xi since returning to the White House.
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