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An image characterizing the Whiskey Rebellion when a government inspector is tarred during the Insurrection of 1794 in the four western counties of Pennsylvania, caused by Hamilton's excise tax. Bettman hide caption

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Bettman

China is aiming to become a global automotive powerhouse, particularly when it comes to electric vehicles. Here, cars wait to be loaded onto a ship at a port in Nanjing. STR/AFP via Getty Images hide caption

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STR/AFP via Getty Images

5 takeaways from Biden's tariff hikes on Chinese electric vehicles

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A Russian police officer and national guard servicemen patrol Red Square next to Burberry shop in Moscow on Thursday. The U.K. imposed a new export ban that will likely affect luxury vehicles, high-end fashion and works of art. -/AFP via Getty Images hide caption

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-/AFP via Getty Images

President Biden, after a meeting with the House Democratic caucus last week. Countering China is one of his top issues, but he hasn't said what he plans to do about Trump-era tariffs yet. Win McNamee/Getty Images hide caption

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Win McNamee/Getty Images

Biden campaigned against the trade war with China, but ending it is complicated

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Cooked lobsters are seen in Bernard, Maine. The U.S. lobster industry has been at a competitive disadvantage in Europe ever since Canada struck its own trade deal with the European Union three years ago. Joe Raedle/Getty Images hide caption

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Joe Raedle/Getty Images

President Trump and Vice Premier Liu He, China's top trade negotiator, sign a "Phase 1" trade agreement between the U.S. and China at the White House on Wednesday. Saul Loeb/AFP via Getty Images hide caption

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Saul Loeb/AFP via Getty Images

Trump Signs 'Phase 1' China Trade Deal, But Most Tariffs Remain In Place

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U.S. farmers have suffered a one-two punch of bad weather, which makes it hard to grow crops, and tariffs, which make it hard to sell what they grow. Michael Conroy/AP hide caption

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Michael Conroy/AP

How Hard Are Tariffs Hitting The Economy? It Depends On Who You Ask

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President Trump's remarks sent the stock market tumbling on Tuesday morning, as investors grappled to recalibrate to the suggestion that a trade deal with China could be a year away. Evan Vucci/AP hide caption

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Evan Vucci/AP

Dan Digre, who owns a Minnesota factory, Misco, that makes speakers, says tariffs are hurting his ability to compete. Courtesy of Michael Everett/Misco hide caption

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Courtesy of Michael Everett/Misco

His Company Makes Speakers. Now He's Speaking Out, Opposing Tariffs

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In a speech at the Economic Club of New York on Tuesday, President Trump said a mini trade agreement with China could happen "soon," but he offered no guarantees. Andrew Harnik/AP hide caption

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Andrew Harnik/AP

Trump Makes No Promises On China Trade Deal

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Goldfish, like these showcased at Tokyo's Nihonbashi Art Aquarium, have been bred in China over centuries, into forms so varied and rare that one can be worth hundreds of dollars. Toshifumi Kitamura/AFP/Getty Images hide caption

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Toshifumi Kitamura/AFP/Getty Images

The Goldfish Tariff: Fancy Pet Fish Among The Stranger Casualties Of The Trade War

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Workers in green polo shirts and blue caps monitor machines making plastic products at the Dongguan Fangjie Printing and Packaging Company. Jolie Myers/NPR hide caption

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Jolie Myers/NPR

Has The Trade War Taken A Bite Out Of China's Economy? Yes — But It's Complicated

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A worker assembles an industrial valve at Emerson Electric Co.'s factory in Marshalltown, Iowa. The manufacturing sector has seen a slowdown amid the ongoing trade war. Tim Aeppel/Reuters hide caption

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Tim Aeppel/Reuters

Hiring Steady As Employers Add 136,000 Jobs; Unemployment Dips To 3.5%

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With a growing number of imports from China facing tariffs, some companies are trying to avoid those costs by falsely labeling Chinese products as manufactured elsewhere. YinYang/Getty Images hide caption

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YinYang/Getty Images

A Mysterious Pencil Factory Sharpens Focus On Tariff Scams

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Daniel Wood/NPR

NPR Shopping Cart Economics: How Prices Changed At A Walmart In 1 Year

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Designer Isaac Mizrahi (left) embraces Robert D'Loren, CEO of Xcel Brands, which once manufactured 70% of its clothes in China. Today that's down to about 20%. The company now manufacturers in a variety of countries, including Indonesia, India and Sri Lanka. Brendan McDermid/Reuters hide caption

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Brendan McDermid/Reuters

China Falls Out Of Fashion For Some U.S. Brands

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Visitors look at a Cadillac Escalade at the China Auto Show in Beijing in 2018. For General Motors, China is a bigger market than the United States. Mark Schiefelbein/AP hide caption

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Mark Schiefelbein/AP

U.S. Companies In China Get Caught In The Trade War Crossfire

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U.S. Trade Representative Robert Lighthizer (center left) shakes hands with Chinese Vice Premier Liu He at a conference center in Shanghai on July 31. Trade talks are expected to resume in September. Ng Han Guan/AP hide caption

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Ng Han Guan/AP

China's Leaders Are Divided Over Trade War With U.S.

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President Trump announced higher U.S. tariffs on goods from China. "Our great American companies are hereby ordered to immediately start looking for an alternative to China," he tweeted. It was unclear what Trump could do to force U.S. firms to make such a move. Alex Brandon/AP hide caption

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Alex Brandon/AP