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.

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

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

Prices could go up somewhat in the short term, but prices will also go down,” Trump said, before later adding that “nobody really knows what’s going to happen, other than jobs are going to be

President Donald Trump doubled down on his extraordinary push for more balanced trade, ordering on Thursday that agencies should investigate plans for new reciprocal tariffs that could boost America’s revenue — but could also ignite a global trade war and add to America’s rebounding inflation problem.

Trump rolled out his plans to boost tariffs to match tax rates other countries charge on imports, adding to economic worries as inflation rises.

President Trump is threatening to levy taxes on imports to match those other countries charge on U.S. exports.