A new escalation in the trade war Trade relations between the United States and China entered a more sensitive phase on August 25, 2025, after US President Donald Trump threatened to impose tariffs of up to 200% on China's imports if it did not commit to supplying the US market with rare element magnets. The move reflects Washington's use of a policy of direct pressure on a strategic file that forms the backbone of a number of vital sectors, such as defense, aviation, electric vehicles, and advanced electronics. This escalation brings to mind previous rounds of the trade war, and puts the markets in front of a difficult equation between the continuation of a fragile truce that has been in place for months, and the possibility of entering into a new wave of mutual fees that could completely reshape the course of trade negotiations.
