US President Donald Trump warned China of massive 155% tariffs if a new trade deal isn’t signed by November 1. Calling China a country that 'took advantage of us for decades,' Trump said Beijing has been 'very respectful lately' but must act fast to avoid harsher duties on imports.
00:00China's bad behavior has really only gotten worse since the AUKUS partnership was formed.
00:05With that in mind, is the door open for Australia to get additional nuclear-powered submarines or other military capabilities not already in the deal?
00:12I think China's been very respectful of us.
00:15They're paying tremendous amounts of money to us in the form of tariffs.
00:20As you know, they're paying 55%. That's a lot of money.
00:23They never were paying anything over years and years and years.
00:27But they were like anybody else.
00:30A lot of countries took advantage of the U.S.
00:33They're not taking advantage anymore.
00:35China's paying 55% and a potential 155% come November 1st unless we make a deal.
00:43And I'm meeting with President Xi.
00:45We have a very good relationship.
00:46We're going to be meeting in South Korea in a couple of weeks.
00:49And we'll see what we can do.
00:52We have a very good relationship with China.
00:55But, you know, it's been probably a little bit like your relationship with China.
01:01They try and take advantage, but most countries do.
01:04I mean, I can say the European Union took advantage, but not anymore.
01:07We worked out a very fair trade deal.
01:10Japan, we worked out a very fair deal.
01:13South Korea, where I'll be meeting President Xi, we worked out a very fair deal.
01:16And I expect we'll probably work out a very fair deal with President Xi of China.
01:23So most of you will be with us.
01:25It's going to be very exciting.
01:26And I think we're going to work out something that's good for both countries.
01:30Are you at least interested in expediting the nuclear-powered subs to Australia?
01:36Well, we are doing that, yeah.
01:37We're doing that.
01:40We have them moving very, very quickly.
01:45Mr. President, I don't think you've ever been to Australia.
01:48Have you thought about coming to Australia and trying out some of the golf courses?
01:51I would.
01:51And I actually have been to Australia.
01:54And I did play one of your great golf courses.
01:56They have great golf courses there.
01:58But I have been to Australia, actually.
02:00Would you come again?
02:01Oh, I would.
02:02In fact, I've been invited to go.
02:03Indeed.
02:04I'll have to give it serious consideration.
02:06No, it's a real possibility.
02:07Did the Prime Minister invite you today?
02:08He did.
02:09Did Australia meet us?
02:11And perhaps we could time it, must be said, with the President's Cup that Australia hosts as well.
02:16When does the President's Cup?
02:20We'll organise a time suitable for you, Mr. President.
02:27Please, in the back, please.
02:28Yeah, in the back, please.
02:30Yeah, Mr. President, the Prime Minister mentioned that there's a trade imbalance that's very heavily in America's favour.
02:38Why does America slap such heavy tariffs on a friend and ally in Australia?
02:42Well, we don't.
02:43Yeah.
02:43Well, we do in some cases.
02:45We do in many cases because we've been treated unfairly.
02:48But actually, the tariffs are very light.
02:51The one thing is you buy a lot of aeroplanes.
02:53So that helps because you buy a lot of the beautiful Boeings, the best of the Boeings.
02:58Boeing, and by the way, Boeing is really doing well.
03:00They have lots of orders, and they're really doing a great job.
03:04They make a great plan.
03:06But Australia, because of its location, which is great, but one of the things dictated by that location is you have to order a lot of aeroplanes.
03:14So I guess we have that advantage.
03:16They need a lot of aeroplanes in Australia, and that gives us a little bit of an...
03:20Mr. President, yeah, your Secretary of War, Pete Hegseth, in his Shangri-La speech in, I think it was May,
03:28warned about the potential likelihood or threat of President Xi ordering an invasion of Taiwan.
03:362027 is also the year that Fleet Base West is supposed to start rotating those U.S. and U.K. submarines.
03:44Do you see AUKUS as the deterrent for China in the Indo-Pacific?
03:48Yeah, I do.
03:49I think it is, but I don't think we're going to need it.
03:53I think we'll be just fine with China.
03:56China doesn't want to do that.
03:57But first of all, the United States is the strongest military power in the world by far.
04:02It's not even close.
04:03Not even close.
04:04We have the best equipment.
04:05We have the best of everything, and nobody's going to mess with that.
04:08And I don't see that at all with presidency.
04:11I think we're going to get along very well as it pertains to Taiwan and others.
04:17Now, that doesn't mean it's not the apple of his eye, because probably it is.
04:22But I don't see anything happening.
04:23We have a very good trade relationship.
04:25We're going to have a very good, I think, when we leave South Korea.
04:28It could be wrong, but I think we'll end up with a very strong trade deal.
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