The "100% tariff on China" has been ruled out. US Treasury Secretary's remarks on the China-US economic and trade talks send out three major signals.

The US side has already stated that the "100% tariff on China" plan has been ruled out. 
According to CNN's report, US Treasury Secretary Bassent stated that the economic and trade talks between the US and China in Kuala Lumpur, Malaysia were "very good". At present, the plan proposed by US President Trump to impose a 100% tariff on China has basically been ruled out. Meanwhile, as Trump chose Malaysia as the first stop of his current visit, the outside world also believes that Trump intends to take the initiative to cool down the current trade conflict between China and the United States. 
Therefore, the first signal from this US-China meeting is quite clear: for the next period of time, the US will not choose to impose additional tariffs on China. 
The US stock market also reacted quickly to this news. The Dow Jones futures rose by 0.65%, the S&P 500 futures increased by 0.74%, and the Nasdaq futures climbed by 0.92%, indicating the optimism of US investors regarding the economic relations between China and the US. Minister Li Chenggang also publicly disclosed some of the meeting details, stating that the two sides mainly engaged in intense debates on issues such as export control, the extension of reciprocal tariffs, fentanyl tariffs and fentanyl drug control, further expanding trade, and the US 301 vessel fees. 
Although the US side's attitude was very tough, the Chinese side's attitude was very firm. The final outcome was that a preliminary consensus was reached and each side began the internal approval procedures. 
The statement made by Vice Minister Li Chenggang contains the second and third signals. 
The second signal is that the United States has not completely abandoned its idea of trading bullying against China. The US still believes it has the ability to employ unfair trade bullying measures against China. However, correspondingly, China's attitude is also very firm.
That is, if the US wants to negotiate, then both sides should have a good discussion. If the US still wants to continue to compete with China on economic and trade issues, then China will go all the way to defend itself. 
The third signal is that during this Kuala Lumpur meeting between China and the United States, although no complete agreement was reached, some preliminary solutions were still reached, and they have begun the internal approval process and are preparing to be implemented. To put it simply, in certain areas, both sides have already agreed to take actions in advance to avoid affecting the relevant economic and trade cooperation between China and the United States. 
Therefore, not only will the Sino-US economic and trade relations gradually ease after November 1st, but the global supply chain and the overall economic situation of the world will also remain stable. This is undoubtedly good news for the global economy.