Sky-high tariffs had brought trade between the two countries to a screeching halt earlier this year, before they reached a monthslong truce and substantially lowered levies on one another.
But trade tensions have reignited, with Trump threatening to impose tariffs starting at 130% on Chinese exports by November 1, up from the 30% minimum rate currently in effect. Trump also said he’s prepared to impose export controls on what he referred to as “any and all critical software” to China. Beijing has signaled it would retaliate to all these actions.
