President Donald Trump has put China on notice, threatening the imposition of 155% tariffs if a fair trade deal isn’t secured before or shortly after his upcoming meeting with President Xi Jinping. This substantial tariff hike is set to take effect in November unless an agreement is reached. The warning was issued during a White House event where Trump signed a critical minerals accord with Australian Prime Minister Anthony Albanese. ‘We’re having disputes on some issues. They’re paying us a tremendous amount of money in tariffs… Now they’re paying an unbelievable amount of money to the United States,’ Trump commented, referring to the existing 55% tariffs. He indicated that this situation is unsustainable for China and that the US is prepared to lower tariffs only if Beijing offers reciprocal concessions. The planned meeting with Xi will occur during the Asia Pacific Economic Cooperation summit, a gathering of 21 economies. This high-stakes discussion is critical, as a failure to resolve trade disputes could destabilize global markets. Trump expressed his expectation of a positive outcome, calling the potential deal ‘very exciting.’ Details regarding President Xi’s attendance at the summit are still awaiting official confirmation from Beijing. Earlier, Trump had announced plans for a 100% tariff on Chinese goods and export bans on essential software, in addition to the existing tariffs. He reiterated that trade must now be a ‘two-way street,’ signaling an end to previous trade imbalances that favored China.
