Trumps Raises Tariffs On China, Slaps 155% Before Meeting With Xi Jinping

President Donald Trump has intensified the US-China trade war by threatening a 155% tariff on Chinese goods starting November 1st, aiming to pressure Chinese President Xi Jinping into concessions before their upcoming summit. This escalation was announced during a meeting with Australian Prime Minister Anthony Albanese, where Trump expressed a desire for negotiation while warning of the high stakes involved, suggesting this could either force a breakthrough in US-China relations or trigger broader economic turmoil. Trump's strategy, highlighted in hinges on leveraging existing tariffs and his past trade successes, but the move risks provoking a retaliatory response from China, potentially reshaping global trade dynamics.

As global markets react with unease, the 155% tariff hike looms as a potential game-changer, with experts cautioning about its wide-ranging impacts on sectors like technology and textiles. Trump's confidence in this approach contrasts with warnings of a possible trade tit-for-tat that could exacerbate economic instability worldwide. The Australia meeting provided a backdrop for this announcement, underscoring the broader implications for international relations and economic policy.