The Trump administration touts tariffs as part of a wider set of "America First economic policies," which have "sparked trillions of dollars in new investment in U.S. manufacturing, technology, and infrastructure," according to the White House's website.

In the wake of the Trump administration’s trade deal with the European Union, investors have turned to watching for other agreements ahead a deadline at the end of this week — and they’re looking for progress in talks with China,

President Donald Trump and European Commission President Ursula von der Leyen outlined terms of a trade agreement Sunday.