New Delhi: After a period of relative calm, with four major rounds of trade negotiations between the United States and China since May that saw at least two instances of freezing tariffs at previous rates (30 per cent), a renewed tariff war is brewing between the world’s two largest economies.

This follows US President Donald Trump, who unveiled a 100 per cent additional tariff on Chinese imports after Beijing announced new export controls on additional rare earth elements.

Alongside, Trump has also rolled out new export controls on critical software. China already had placed regulations on exports of some rare earths, but on Thursday, October 9, it added five more, with the commerce ministry announcing that to safeguard national security and interests, the ministry will impose export c

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