Beijing's commerce ministry said tariffs wouldn't 'solve America's own problems.' Investors are taking a wait-and-see approach.

It is Congress, not the president, that has the constitutional power to regulate foreign commerce and impose tariffs

The tariffs he imposed on China in his first term were continued by President Joe Biden, a Democrat who even expanded tariffs and restrictions on the world's second largest economy. Biden administration officials looked at removing Trump's tariffs in order to bring down inflationary pressures, only to find they were unlikely to help significantly.