A tariff hike could potentially damage the Chinese economy. The U.S. imported about $438 billion worth of goods and services from China last year, making it the largest destination for China’s exports. In all, that figure accounts for about 15% of China’s exports, according to the Office of the U.S. Trade Representative.

Markets rallied after US treasury secretary Scott Bessent said the threat of the US president imposing an additional 100% tariff on Chinese goods was “effectively off the table” following weekend neg...

“A big question mark for the United States, of course, is whether this is consistent with U.S. law since there was a law passed by Congress,” Glaser said.

As U.S. President Donald Trump and China's leader Xi Jinping prepare to kick off talks on Thursday, U.S. negotiators have signaled they seek a return to a fragile trade war truce, but tensions remain ...