The U.S. and China have raised new tariffs and export controls on each other, but they may just be a negotiating tactic.
President Donald Trump reacted with rare reassurance Sunday night after renewed trade tensions last week threatened to unravel progress towards a U.S.-China trade deal. China last week unveiled wide-ranging global export controls on rare earths, to the dismay of European and Asian nations, as well as the U.S., which has itself imposed several restrictions on China even after the countries reached a trade-war truce in May. In immediate response, Trump threatened to raise the U.S. tariff on Chinese goods to more than 100%, place export controls on critical software, and pull out of a future meeting with Chinese President Xi Jinping.
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