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Trump also threatened blanket tariffs of 15% or 20% on most trade partners, and said he will soon announce new tariffs on the EU.
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The president revived his discredited claims about fentanyl entering the U.S. from Canada to justify his latest proposed rate of 35 percent.
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Brazil's President Lula is firing back at Trump's 50% tariff threat — saying Brazil is ready to match any U.S. import taxes, dollar for dollar.
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The meeting takes place on the sidelines of a Southeast Asian summit, where Washington and Beijing are each attempting to exert their influence.
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