It's a pattern in President Trump's chaotic tariff policy: he first suggests a high number, only to later ratchet it down. Business schools call it the 'anchor effect.'

U.S. levies on Chinese goods will drop from at least 145% to 30% for an initial period of 90 days, while Chinese levies are set to fall from at least 125% to 10% on American goods.

Chinese consumers have less and less confidence to splurge, which spells trouble for government efforts to jump-start consumer spending to offset deflation and mitigate the trade war with the U.S.

The superpowers have been locked in a geopolitical blinking contest, waiting for the other side to reach out. The talks in Switzerland are the first concrete sign of a potential thaw in the deadlock.

Exporters, importers and recent government statistics all suggest that trade in both directions is slowing sharply as a result of the tariffs. Neither side appears willing to be seen giving ground.

President Trump wants European countries to start buying U.S. chicken and eggs. But the U.K. and E.U. think American poultry is gross and chemically washed. Turns out, chlorine isn't really the issue.

China signals the latest tariff hike will be its last round of tit-for-tat measures, prompting sharp falls in European shares, as Asian stocks end the day mixed.

Stocks retreated for yet another day after attempting a rebound earlier in the session. Trillions of dollars in investor wealth have been wiped out since last week.

Trump said on Truth Social he would impose the new tariffs on China if Beijing did not retract a 34% retaliatory tariff on U.S. goods that it announced in response to Trump's initial salvo last Wednesday.

Analysts say the escalating trade tensions between the U.S and China will make a near-term deal to end the trade war "highly unlikely".

President Trump said that he is standing up for skilled workers and farmers by slapping tariffs on imports, but farmers aren't happy.

The president's latest action on trade takes effect next week, and will slap a 25% tariff on imported cars and car parts. He says the measure will boost U.S. manufacturing.

Companies can try to avoid or minimize tariffs by requesting exemptions or legally reclassifying their products. Here's a look at some of the strategies that have worked in the past.

China's top foreign policy official addressed the escalating trade war with the U.S. and promoted China as an "anchor" on the global stage as America retreats from international involvement.

U.S. stock markets plummeted on Tuesday morning as a new global trade war began.