President Donald Trump has put China on notice, threatening a massive 155% tariff on its goods if a trade resolution isn’t achieved by November 1st. The announcement was made at the White House during discussions with Australian Prime Minister Anthony Albanese. Trump described current tariffs paid by China as substantial and stated that the United States would no longer tolerate being disadvantaged in trade. He expressed confidence in reaching a ‘really great trade deal’ after an upcoming meeting with Chinese President Xi Jinping in South Korea. This latest tariff warning, detailed on Truth Social, also includes a 100% additional tariff and export controls on vital software, which Trump characterized as a response to an ‘extremely hostile letter’ from China regarding trade. Separately, the U.S. and Australia solidified a critical minerals and defense cooperation agreement worth $8.5 billion, reinforcing their alliance. Trump also mentioned an invitation to visit China early in the new year.
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