Shipping containers at the Yantian International Container Terminals in Shenzhen, China.
Photographer: Qilai Shen/BloombergWhat's the US-China Trade War All About?
Almost $700 billion of annual commerce hangs in the balance as US President Donald Trump and China’s President Xi Jinping prepare to meet.
If Donald Trump and Xi Jinping meet as planned on Oct. 30 – for the first time since the US president reignited a global trade fight in April – the world will be watching to see whether they strike a long-awaited trade deal and put an end to months of escalating threats, including triple-digit tariffs that risked crippling commerce between the world’s two largest economies.
Just days out from the meeting – and just weeks after Trump threatened to slap 100% tariffs on imports from China during a new flare-up over rare earths licenses, tech exports and shipping levies – both sides adopted a more conciliatory tone and signaled progress on trade talks. Treasury Secretary Scott Bessent said Trump’s latest threat was “effectively off the table.”