Trump started hiking tariffs on Chinese goods shortly after his return to the White House. China ultimately responded with tariffs of its own. Tensions escalated, with tariff rates hitting the triple digits, before a trade truce in May.

President Trump’s executive order carved out a special tariff on goods shipped indirectly to the United States by way of other countries.

U.S. Treasury Secretary Scott Bessent said Friday he's optimistic about reaching a trade agreement with China as President Donald Trump launched a sweeping new round of tariffs affecting dozens of countries.