US President Donald Trump said on Thursday that tariffs on Chinese exports to the US would rise to 157 percent from November 2025, “which is record territory.”
During a press interaction at the White House, Trump said the first question he would ask the Chinese president would be about fentanyl.
“I’m meeting with President Xi … The first question I’m going to ask him is fentanyl. They make $100 million selling fentanyl into our country,” Trump said.
Trump will meet with Xi Jinping in South Korea’s Busan next Thursday, October 30, on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit.
The US president has accused China of using Venezuela as a transit point for fentanyl, avoiding US and Mexican port controls.
Asked if China was smuggling fentanyl into the US through Venezuela, Trump said: “They do. But right now they’re paying a 20% tariff on fentanyl.”
He said China is losing $100 billion with a 20 percent tariff.
“So it’s not a good business proposition … It’s one of the things we’re talking about … He’s paying a very heavy fine for that … We’ll see what happens at the end of next week … I’m meeting with President Xi actually in South Korea …,” Trump said.
Trump to meet with Si
Trump’s meeting with Xi Jinping in Busan comes at a time of heightened economic and geopolitical tensions between the two powers, with Washington preparing to impose 100 percent tariffs on Chinese imports just days after the summit.
Trump said Thursday that on Nov. 1, tariffs on China will increase to 157 percent, “a record level. It’s not sustainable for them.”
The meeting in Busan will be the first face-to-face meeting between Trump and Xi since 2019, when they last met during the G20 summit in Japan. But this time, officials say the stakes are much higher.
Trump has said his campaign against drug cartels, tied to his summit next Thursday with Chinese President Xi Jinping, will accelerate the decline in US overdose deaths that peaked under former President Joe Biden.
Meanwhile, Chinese Vice Premier He Lifeng is set to hold economic and trade consultations with the United States, Xinhua reported, citing China’s Ministry of Commerce.
China’s vice premier is set to lead a delegation to Malaysia from October 24 to 27 to attend the upcoming ASEAN summit, which is also expected to be attended by US President Donald Trump. The meeting comes at a crucial time as the United States finds itself in a “trade war” with the country
