‘Unless we make a deal’: Trump sets Nov 1 deadline, threatens China with 155% tariff

US President Donald Trump threatened to slap tariffs of up to 155% on Chinese imports starting November 1, warning that a failure to strike a trade deal would trigger one of the most severe economic escalations between Washington and Beijing in years.

Speaking from the White House alongside Australian Prime Minister Anthony Albanese, Trump said China had been “very respectful” but emphasized that Beijing was already paying “tremendous amounts” in existing tariffs. 

“China’s paying 55 per cent and a potential 155 per cent come November 1st unless we make a deal,” Trump said.

The warning follows Trump’s earlier post on Truth Social where he announced plans to impose an additional 100% tariff—on top of existing duties—if trade talks collapse. He also pledged to implement sweeping export controls on critical software. “This affects ALL Countries, without exception,” Trump wrote, accusing China of crafting a years-old plan to undercut global trade.

Despite the threats, Trump confirmed a meeting with Chinese President Xi Jinping in South Korea in the coming weeks, calling their relationship “very good.” He expressed optimism for a “fair and great trade deal,” adding, “I want them to buy soybeans.”

Trump also revealed he had accepted an invitation to visit China in early 2026, signaling that channels for negotiation remain open.

The tariff ultimatum came during Trump’s meeting with Albanese, where the two leaders unveiled an $8.5 billion agreement to expand cooperation on defense technology and critical minerals. “USD 8.5 billion is in the pipeline,” Albanese said, emphasizing the pact’s potential to strengthen supply chains and security ties.