Trump threatens China with ‘potential 155% tariffs’ if trade deal not signed till Nov 1

Responding to a question by a reporter, Trump said, “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% (tariffs), that’s a lot of money.” Issuing the 155% tariff warning to Beijing, the Republican president said, “China’s paying 55% and a potential 155% come November 1st unless we make a deal.”

Trump highlighted that several countries were earlier taking “advantage of the US” but they are not taking any advantage now after Washington worked out a trade deal with its trading partners. Noting that he is poised to meet President Jinping, Trump said, “We have a very good relationship and we’ll be meeting in South Korea in a couple of weeks.”

Displaying optimism over his upcoming meeting with Chinese President Jinping, Trump added, “We have the best of everything and nobody is going to mess with that…I think we’ll end up with a very strong trade deal. Both of us will be happy.”

However, hours after Trump made the remarks at the White House, China confirmed that they have removed top trade negotiator Li Chenggang as permanent representative to the World Trade Organization (WTO). The WTO informed that Li Yongjie has replaced him and her credentials were presented on September 29, Reuters reported.