US President Donald Trump on Monday warned that China could face tariffs as high as 155 per cent unless President Xi Jinping signs a fair deal with Washington , reigniting tensions over trade policy between the world’s two largest economies.

Speaking at the White House during a bilateral meeting with Australian Prime Minister Anthony Albanese , Trump said Beijing had been very respectful toward the US but reiterated that his administration would not tolerate unfair trade practices.

"I think China’s been very respectful of us. They are paying tremendous amounts of money to us in the form of tariffs. As you know, they are paying 55 per cent, that’s a lot of money," Trump said, before warning that new levies could be imposed. "China’s paying 55 per cent and a potential 155 per cent com

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