During his first term in office, Trump imposed tariffs on more than $360 billion worth of Chinese products. The tariffs put the brakes on a fairly steady rise in Chinese exports to the U.S. They fell at first, then bounced back as the U.S. economy boomed, before leveling off at $500 billion last year.

President-elect Donald Trump vowed additional tariffs on China as well as US neighbors Canada and Mexico, roiling markets with his first specific threat to curb global trade flows since his election win.

Last night, President-elect Donald Trump took to Truth Social to declare his intention to slap tariffs on China, Canada and Mexico shortly after taking office.