Overview
- Speaking at the White House, the president said China faces tariffs as high as 155% starting Nov. 1 unless a new trade agreement is reached.
- Trump has also announced an additional 100% tariff on Chinese goods and export controls on critical software to take effect on Nov. 1.
- U.S. and Chinese officials plan trade talks in Malaysia this week, and Trump says he will meet Xi Jinping in South Korea later this month.
- The Supreme Court will hear arguments Nov. 5 on lower-court limits to using the International Emergency Economic Powers Act for broad tariffs, which Trump says are vital to national security.
- During a meeting with Australia’s prime minister, the U.S. unveiled an $8.5 billion critical-minerals and defense cooperation pact, and markets saw selloffs with large crypto liquidations reported.