By Admin 
US President Donald Trump has once again given a strict economic warning to China. He said that if there is no trade agreement between America and China, then China will have to face tariffs of up to 155 percent. Trump made this statement during a meeting with Australian Prime Minister Anthony Albanese at the White House, where the two leaders signed an important agreement on mineral resources.
Trump said, “I think we are going to make a wonderful trade deal with China. This deal will be beneficial for both countries and the whole world.” He told that he is going to meet Chinese President Xi Jinping soon. Probably this meeting can be held in South Korea in the next few weeks.
What did Trump say about China?
Trump said, “I think China respects America very much now. They are already giving us a huge amount in the form of 55% tariff. But if there is no deal, from November 1 this rate will increase to 155%.”
He further said, “Earlier many countries took economic advantage of America, but now this will not happen. We are protecting our interests. This deal will be such that it will be beneficial for both America and China.”
Why is this statement important?
This statement of Trump has come at a time when China has imposed strict controls on the export of rare earth minerals used in smartphones, electric vehicles and defense technologies. These minerals are very strategically important for America.
Experts say that this tariff step of Trump is a direct response to these export restrictions of China. This may further inflame the already ongoing trade war between America and China.
The Trump administration has already imposed heavy tariffs on China, especially in 2018-19 when duties were increased on hundreds of billions of dollars of trade between the two countries. Now once again Trump has indicated that if China continues with its unfair trade policies, America will take strict steps to protect its industries and jobs.
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