New Delhi, Oct. 21 -- US President Donald Trump issued a series of escalating statements on Monday as trade tensions between the United States and China deepened. Trump announced plans to impose a 155% tariff on Chinese goods beginning 1 November, warning Beijing against retaliating against foreign companies supporting American industry.

The US president accused China of punishing US farmers by halting soybean purchases, asserting that his administration "will not allow China to punish our farmers."

Trump further declared that China would face "big trouble" if it refused to conduct business with the United States, underscoring his readiness to counter any economic threats.

Trump suggested that Beijing could respond by restricting rare ...