Trump confirmed that he would meet Xi later this month on the sidelines of the Asia Pacific Economic Cooperation summit, which brings together 21 economies.
US President Donald Trump on Monday warned China of steep trade tariffs, saying he would impose 155 per cent levies if President Xi Jinping failed to reach 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.
“I think China’s been very respectful of us. Theyโre paying tremendous amounts of money to us in the form of tariffs. As you know, theyโre paying 55 percent,ย that’s a lot of money… Chinaโs paying 55 percent and a potential 155 percent come November 1 unless we make a deal,”ย Trump said ahead of his bilateral talks with Albanese.
The Republican leader noted that the United States had secured trade agreements with several countries that were โpreviously taking advantageโ of it. โNot anymore,โ he added.
โI expect weโll 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,โ Trump said.
Trump-Xi meeting
All eyes are on a possible meeting between Donald Trump and Xi Jinping, as any failure to reach an agreement could heighten tensions between the two superpowers and unsettle the global economy.
Trump confirmed that he would meet Xi later this month on the sidelines of the Asia Pacific Economic Cooperation summit, which brings together 21 economies.
Beijing has yet to confirm whether Xi will travel to South Korea for the summit, though it is common for such details to be finalised and announced closer to the visit.
Trumpโs earlier remarks on China tariffs
Earlier, Trump had announced a 100 percent tariff on Chinese goods, alongside new export controls on โany and all critical softwareโ effective from November 1. This would be in addition to the 55 percent tariffs already imposed on imports from China.
Speaking to reporters on Sunday, Trump said, โI have a very good relationship with President Xi of China. Weโre having disputes on some issues. Theyโre paying us a tremendous amount of money in tariffs, and theyโd probably like to have it reduced. Weโll work on that, but they have to give us something in return.โ
โThey paid a lot during my first administration, my first term. Now theyโre paying an unbelievable amount of money to the United States. They probably canโt sustain that, and Iโm fine with that. We can lower the tariffs, but they have to make concessions. Itโs no longer a one-way street,โ he added.
Before these remarks, US Treasury Secretary Scott Bessent said China and the United States would hold talks later this week in Malaysia, shortly after reports that Trump had considered cancelling his first in-person meeting with President Xi since returning to the White House.
Also read:ย ‘Behave and be nice’: Trump warns Hamas of ‘eradication’ over ceasefire violation in Gaza