Trump dramatically escalated economic tensions in April. Citing unfair Chinese trade practices and promising to revitalize U.S. manufacturing, he announced heavy tariffs on Chinese goods. The move rattled global supply chains and prompted swift retaliation from Beijing, which introduced its own tariffs and a suite of other tit-for-tat measures.

President Donald Trump shakes hands with European Commission President Ursula von der Leyen, as US Commerce Secretary Howard Lutnick, US Trade Representative Jamieson Greer and White House Deputy Chief of Staff Stephen Miller clap after an announcement of a trade deal between the US and EU in Turnberry, Scotland, on July 27.

U.S. and Chinese officials are meeting in Stockholm to discuss trade tariffs and a potential summit between their leaders