President Donald Trump has issued a stark warning to China, suggesting tariffs could skyrocket to 155% if a trade deal isn’t secured by November 1st. This aggressive tariff threat comes alongside surprisingly conciliatory remarks from the President regarding U.S.-China trade relations. Trump acknowledged that China has been “very respectful” and is currently transferring “tremendous amounts of money” to the U.S. via tariffs.
He detailed that China is presently paying a substantial 55% tariff, which he characterized as “a lot of money.” The implication is that failure to reach an accord could trigger a dramatic increase to 155%. Nevertheless, Trump conveyed his expectation of negotiating a “very fair trade deal” with President Xi, hinting at a potentially positive and “exciting” resolution to the long-standing trade disputes.