US President Donald Trump warned that tariffs on Chinese goods could rise to 155% by November 1 unless Beijing agrees to what he called a fair trade deal with Washington. The remarks came at the White House as Trump signed a critical minerals agreement with Australian Prime Minister Anthony Albanese, ahead of bilateral talks.
Trump said China has been “very respectful” and is already “paying 55%” in tariffs, adding that the levies could climb to a “potential 155%” if no agreement is reached by the deadline. He reiterated that his administration has negotiated trade terms with countries that he claimed had previously taken advantage of the United States, asserting that this is “not anymore.”
Expressing optimism, Trump said he expects to “work out a very fair trade deal” with Chinese President Xi Jinping and suggested upcoming developments would be “very exciting.” He also indicated that while tariffs could be lowered, any relief would hinge on reciprocal steps from Beijing, emphasizing that ties are “no longer a one-way street.”
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Earlier, Trump had announced plans for a 100% tariff on goods from China along with new export controls on “any and all critical software” by November 1, on top of the existing 55% levies. He noted that China paid “a lot” during his first term and is now paying “an unbelievable amount,” adding that reductions are possible if China “does things for us too.”
Meanwhile, US Treasury Secretary Scott Bessent said US and Chinese officials are set to meet in Malaysia later this week, following reports that Trump had considered canceling what would have been his first in-person meeting with President Xi since returning to the White House.
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