US President Donald Trump 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”

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