US President Donald Trump issued a series of statements on Monday addressing ongoing trade tensions between the United States and China. President Trump outlined plans to impose a 155% tariff on Chinese goods, effective November 1.
He cautioned Beijing against retaliating against foreign companies supporting American industry. The President accused China of punishing US farmers by halting soybean purchases and asserted that his administration would not permit such actions. Furthermore, President Trump stated that China would face "big trouble" if it refused to conduct business with the United States, and he hinted at the potential implementation of aircraft export controls as part of a broader strategy.
President Trump noted that China is currently subject to a 55% tariff, with the possibility of this increasing to 155% on November 1st unless a trade agreement is reached. Despite these announced measures, he conveyed optimism regarding his upcoming meeting with Chinese President Xi Jinping in South Korea, expressing hope for a trade deal that benefits both nations.
Source: https://www.livemint.com/news/us-news/trump-escalates-pressure-on-china-threatens-crushing-155-per-cent-tariff-amid-rising-trade-tensions-11761012394591.html