US President Donald Trump has threatened to impose a hefty 155% tariff on Chinese goods unless the US and China could come to a fair trade agreement. Trump’s remarks came as he signed a critical minerals agreement with Australian Prime Minister Anthony Albanese at the White House.
“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%, that’s a lot of money… China’s paying 55% and a potential 155% come November 1st unless we make a deal,” Trump told reporters before his bilateral talks with Albanese.
The president also took the opportunity to point out his administration’s success in renegotiating trade deals with other nations, including those that were previously seen as “taking advantage” of the United States. “Not anymore,” Trump asserted.
Trump’s earlier comments on China
Speaking to reporters aboard Air Force One earlier today, he commented on the hefty tariffs, saying, “Right now, China’s paying a tremendous amount of money in tariffs like they’d never paid before. You know, they paid a lot during my first administration, my first term.”
Trump continued, calling the tariff burden “an unbelievable amount of money” for China to pay, adding, “they probably can’t pay that much. And I’m okay with that.”
He also made it clear that any tariff reduction would depend on China’s willingness to negotiate. “We can lower that, but they have to do things for us, too. It’s no longer a one-way street.”
When asked about the potential level of reduced tariffs, Trump said, “It depends. I mean, we’ll have to see what they want.” He also mentioned the tariff on fentanyl, stating, “One of the penalties we have, because they’re sending in fentanyl and all, we have a 20%, as you know, a 20% tariff on that. But they’d be paying about a 157% tariff, which is, you know, record-sending type tariff.”
Trump made it clear that while he doesn’t seek to harm China, he expects something in return. “I don’t want them to do that. I want to help China. I’m not looking to hurt China. But they have to give us things, too.”
As part of these expectations, Trump added that China must start buying US soybeans again and stop the fentanyl issue. “Very, you know, normal things. I don’t want them to play the rare earth game with us.”
He also pointed to the struggles of American farmers, particularly those in the soybean industry, who have faced a boycott by China. “Our farmers have been boycotted by China as a negotiating point. I don’t want that. Our farmers are great. And in particular our soybean farmers. And I want them to start buying soybeans at least in the amount that they were buying before. And I believe they’ll be able to do that.” Trump made it clear that without these commitments, a deal would not be on the table: “Otherwise I’m not going to make a deal.”
