US-China Tariffs Heat Up—Pause Still Possible, Says Bessent
President Trump signaled the U.S. and China are effectively in a trade war, even as Treasury Secretary Scott Bessent left room to extend a current tariff pause and a Trump–Xi meeting remains on the calendar. After floating a new 100% tariff on Chinese goods from Nov. 1, tensions seesawed amid Chinese sanctions and U.S. threats over soybeans. Some U.S. tariffs (up to ~145%) are paused until Nov. 10, with a Supreme Court test of “reciprocal” tariffs looming. Companies are adapting unevenly—Stellantis expanding in the U.S., while Apple deepens ties in China—suggesting continued market volatility.
Industry
