The United States and China are once again heading rapidly toward a trade war that no one wants. After a months-long pause, the return of mutual tariffs and export restrictions threatens to harm both countries’ economies and disrupt global economic growth.

Axar.az informs that The Washington Post reported this.

“China caught the White House off guard — it announced large-scale new restrictions on the export of rare earth minerals and magnets essential for everything from laptops and electric vehicles to American fighter jets, submarines, and missiles. In addition to the seven elements previously subject to strict export limits, Beijing added five more to the list.

In response, U.S. President Donald Trump announced new 100% tariffs on Chinese goods, as well as new restrictions on the export of vital technologies to China. Trump also threatened to cancel his planned meeting with Chinese leader Xi Jinping at the Asian Leaders Summit to be held in South Korea at the end of the month.

That meeting was intended to lay the groundwork for a large-scale summit early next year. Nevertheless, both sides have left themselves room to maneuver: China delayed the enforcement of its new restrictions until December 1, while Trump postponed the implementation of U.S. countermeasures until November 1. According to media reports, this shows that the world’s two largest economies are mostly demonstrating a tough stance through threats and ultimatums to strengthen their negotiating positions,” the newspaper noted.