US President Donald Trump has warned China that if it does not cooperate in trade with the United States, 155% tariffs will be imposed on it from November 1. Trump stated that this step is necessary for national security and America's economic interests. New trade agreements have also been made with the US and several other countries.
Tariff: During a press conference at the White House, US President Donald Trump warned China that if it does not cooperate in trade agreements with the United States, a 155% tariff will be imposed on it from November 1. Trump said this step is to protect national security and American economic interests. He expressed hope for a fair trade deal with China and mentioned that he would meet President Xi Jinping in South Korea in two weeks. He also referred to recent agreements with the European Union, Japan, and South Korea.
Trump Warns China
Trump stated that he wants to have a good relationship with China. However, in recent years, China has adopted a tough stance with the United States. He remarked that previous presidents were not commercially astute and allowed China and other countries to take advantage of America. Trump also added that the current measure is linked to national security and economic interests.
Purpose of Tariffs
The US President clarified that the purpose of imposing a 155 percent tariff is to encourage China to enter into a fair trade agreement. He stated that this would not be a sustainable situation for China and would ensure benefits for the US. Trump mentioned that the American government has utilized tariffs to secure several important agreements with the European Union, Japan, and South Korea.
Trump stated that through tariffs, the US is earning hundreds of billions of dollars, which will also help pay down the national debt. He noted that many countries previously took advantage of America, but this situation is now changing.
US Strategy in Global Trade
Trump also said that the US is pursuing new trade deals with several countries, including the European Union, Japan, and South Korea. He stated that these agreements have strengthened both America's economic and national security. Trump emphasized that the objective of tariffs is to protect US interests and create balance in global trade.
Upcoming Meeting Between China and US
The US President expressed hope that America would be able to reach a fair and balanced trade agreement with Chinese President Xi Jinping. Trump revealed that he would meet President Xi Jinping in two weeks. This meeting will be held in South Korea.
He stated that several important issues would be discussed during the meeting. Trump believes that these discussions will be positive and will strengthen trade relations between the two countries. He also mentioned that the US is serious about a fair trade deal with China.
Oil Purchases from Russia and Global Impact
Warning China, Trump stated that the US would take action regarding oil purchases from Russia. This step is linked to America's strategic interests and energy security. Trump also indicated that if China does not engage in fair trade with the US, the tariff level could increase even further.
According to experts, this move by the US could impact global trade and the oil market. The effects of this decision on China's economy and the global supply chain are being closely monitored.
