The rapid-fire shots of tariffs and import curbs hearken back to Trump’s first term in office, when the U.S. and China engaged in a trade war that spanned most of Trump’s first four years in office and was continued to a certain extent under his successor, Joe Biden.

Existing American tariffs already restrict steel and aluminum shipments from China, which is now flooding other markets with its exports instead.

On today’s Big Take Asia podcast, why a second trade war between the US under Trump and China under Xi could look very different from the first

President Trump has proposed a sweeping set of tariffs. Does this mark the end of the post-war free trade world?

"Interest Rates should be lowered, something which would go hand in hand with upcoming Tariffs!!!" Trump wrote in a post on his Truth Social platform.