The United States could see tariffs on Chinese goods soar to a staggering 155% if a trade agreement isn’t reached by November 1st, President Donald Trump has warned. However, he also expressed a notably softer stance towards China, indicating a potential for renewed trade discussions. Trump remarked that China has been “very respectful” and is currently paying “tremendous amounts of money” to the U.S. through existing tariffs.
He elaborated on the current tariff rates, stating that China is paying a significant 55% on certain goods, describing it as “a lot of money.” This existing levy, coupled with the potential hike to 155%, underscores the high stakes in the ongoing trade negotiations. Despite the looming threat of escalated tariffs, Trump expressed optimism about striking a fair trade deal with Chinese President Xi Jinping, anticipating an “exciting” outcome.