New Delhi : US President Donald Trump on Monday warned that tariffs as high as 155 per cent could be imposed on Chinese goods come November 1 unless President Xi Jinping signs what he called a “fair deal” with Washington. The warning came as Trump signed a critical minerals agreement with Australian Prime Minister Anthony Albanese at the White House, part of efforts to strengthen supply chains and reduce dependence on China.
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 pointed out that the US had worked out trade agreements with several nations that had “earlier taken advantage” of Washington.
Trump, who has long touted tariffs as a diplomatic weapon, 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. Trump had earlier 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.
Speaking to reporters on Sunday (local time), Trump said he maintained a “very good relationship” with Xi. 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.
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