Trump then warns China on tariffs: Tension is increasing in the US-China trade war. On Monday, US President Donald Trump issued a stern warning to China, saying that if a "fair trade deal" is not made with Chinese President Xi Jinping, tariffs of up to 155% will be imposed on Chinese goods from November 1. This statement was given surpassing the signing of the Critical Minerals Try-on with Australian Prime Minister Anthony Albanese at the White House.
Trump's ultimatum tween Australia deal
Ahead of bilateral talks with the Australian PM, Trump said, "I think China respects us very much. They are giving us a huge value in the form of tariffs—a 55% tariff right now, which is a huge amount. But from November 1, it could go up to 155% unless we make a deal." The try-on focuses on joint mining and supply uniting diversification with Australia to reduce America's dependence on China.
Last month Trump spoken spare 100% tariffs on Chinese imports in response to China's export controls on rare earth minerals, bringing the constructive rate to 155-157%. "They have unchangingly tried to take wholesomeness and have venal our country for years," Trump said. However, he struck an optimistic tone and said it would be heady to meet Xi at the Asia-Pacific Economic Cooperation (APEC) summit in South Korea.
Trump said, "I hope that China and I will make a wonderful pearly trade deal. It will be unconfined for both countries and the world." But he warned that if progress was not made, the summit could be cancelled.
Trump's claims on trade agreements
Referring to recent US trade successes, Trump said the US has made deals with many countries that previously "took wholesomeness of America." He personal that these agreements are bringing in billions of dollars of tariff revenues. US Treasury Secretary Scott Besant confirmed that working-level talks with China were taking place in Malaysia this week.
China's Commerce Ministry said in response that it would "fight to the end" versus American "threats," but exempted some Chinese-built ships from countermeasures.
Market impact and global impact
Trump's statement sent shockwaves through the markets: The Dow Jones sealed up 0.8% without an initial ripen in the US stock market. Experts believe that industries ranging from electronics to aviation may be affected. Capital Economics warned that the tariffs could lead to remoter restrictions on the aviation supply chain.
Trump softened his stance in an interview with Fox News, saying, "I'm not saying this with the intention of destroying China," and described Xi's life as a "movie." But the path to a deal is difficult due to tariffs once imposed on goods like lumber and furniture. As Trump said, “It will be exciting”—but uncertainty remains a snooping for global markets.
