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President Trump’s rapidly escalating trade war with China has resulted in eye-watering tariffs on products exchanged between the countries and scrambled prospects for many global businesses that depend on the trade. And there is no end in sight.
The Trump administration has been waiting for the Chinese leader, Xi Jinping, to call Mr. Trump personally, but Beijing appears wary of putting Mr. Xi in an unpredictable and potentially embarrassing situation with the U.S. president.
With the two governments at an impasse, businesses that rely on sourcing products from China — varying from hardware stores to toymakers — have been thrown into turmoil. The triple-digit tariff rates have forced many to halt shipments entirely.
Mr. Trump has rapidly ratcheted up tariffs on Chinese products, from 54 percent on April 2 to 145 percent just one week later. The Chinese government has argued that the actions are unfair and closely matched his moves, raising its tariffs on American goods to 125 percent on Friday.
But on Friday night, the administration created a significant carve out to its tariffs on China when it exempted some electronics, including smartphones, laptops and televisions. Those products will still be subject to other tariffs that Mr. Trump has put in place, like a 20 percent fee he added to Chinese goods in response to the country’s role in the fentanyl trade.
Mr. Trump has said he would like to speak with Mr. Xi, but he has stopped short of requesting a phone call, believing that it is the Chinese government’s turn to ask for such a call, according to people familiar with the matter. Trump officials say that dozens of countries have reached out to the administration about negotiations since the levies were imposed. China did not, and instead responded with harsh words and tariffs of its own.
