Trump threatens a 155% tariff on Chinese goods if no trade deal is reached by November 1.
China replaces WTO envoy Li Chenggang amid rising trade tensions.
Trump and Xi Jinping scheduled to meet at the APEC summit to discuss trade issues.
US President Donald Trump has warned that the United States could impose a “potential 155% tariff” on Chinese goods if Beijing does not finalise a trade agreement by 1 November. The warning was issued as Trump signed a critical minerals deal at the White House with Australian Prime Minister Anthony Albanese on Monday.
According to Indian Express, Trump outlined a series of issues he expects China to address in negotiations, including rare earths, fentanyl, and soybeans. Speaking to reporters, he said, “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% (tariffs), that’s a lot of money.”
He added, "China’s paying 55% and a potential 155% come November 1st unless we make a deal." Trump also noted that while other countries had previously taken advantage of the US, trade agreements negotiated under his administration have addressed these imbalances.
Trump confirmed he is scheduled to meet Chinese President Xi Jinping in South Korea in the coming weeks. "We have a very good relationship and we’ll be meeting in South Korea in a couple of weeks," he said. He expressed confidence in reaching a deal, stating, "I think we’ll end up with a very strong trade deal. Both of us will be happy", Indian Express reported.
Following Trump’s remarks, China announced changes to its representation at the World Trade Organization (WTO). Top trade negotiator Li Chenggang has been replaced by Li Yongjie, whose credentials were presented to the WTO on 29 September, Reuters reported.
According to Indian Express, the announcement comes amid heightened tensions over trade negotiations, with both sides signalling a potential escalation in tariffs if no agreement is reached.
(With inputs from Indian Express)
