Trump signals China tariff hike ahead of meeting with Xi Jinping

US President Donald Trump said on Monday he expected to move ahead with raising tariffs on $200 billion in Chinese imports to 25 per cent from the current 10 per cent and repeated his threat to slap tariffs on all remaining imports from China.

In an interview with the Wall Street Journal four days ahead of his high-stakes meeting with Chinese President Xi Jinping in Argentina, Trump said it was “highly unlikely” he would accept China’s request to hold off on the increase, which is due to take effect on January 1.

“The only deal would be China has to open up their country to competition from the United States,” Trump told the Journal.

“As far as other countries are concerned, that’s up to them.” Trump, who is due to meet Xi on the sidelines of a G20 summit in Buenos Aires this week, said that if negotiations were unsuccessful, he would also put tariffs on the rest of Chinese imports. “If we don’t make a deal, then I’m going to put the $267 billion additional on,” at a tariff rate of either 10 per cent or 25 per cent, he said. 

But in Beijing, Chinese foreign ministry spokesman Geng Shuang said China’s hope that both sides could work towards a “positive outcome” from the meeting.