China's determination to become a major player in this field is evident.

"The imposition of higher tariffs on Chinese goods by the Trump administration could prompt international businesses and investors to turn to Bangladesh," Ahsan Khan Chowdhury, chairman of Pran-RFL Group, said today

The former and next president said on his Truth Social account that he would hammer the United States' largest trading partners in response to the illegal drug trade and immigration

The new rules, which take effect on January 2 next year, will prohibit US-headquartered firms, citizens, and permanent residents from engaging in transactions involving cutting-edge technology like semiconductors, artificial intelligence (AI), and quantum computing

As he makes another White House bid in 2024, tariff hikes -- this time on all US imports -- are again on the table.

Despite targeting $18 billion in imports across new and already targeted sectors, analysts do not expect a major economic impact, assuming Beijing does not retaliate significantly

The Biden administration's new tariffs on Chinese electric vehicles and other strategic sectors aim to protect the future of US manufacturing, but they will likely accelerate a shift of Chinese production to Mexico, Vietnam and elsewhere to avoid them

The move comes at the end of a long-awaited review of tariffs that were imposed during a trade war between Washington and Beijing