Overview

• The tariff is slated to begin Nov. 1, with Trump saying it could take effect sooner depending on China’s actions.
• Stocks fell sharply on Friday following the announcement of the tariff plan.
• Trump said de-escalation remains possible and described the timing as a window to gauge China’s response.
• He questioned the need for a planned meeting with Xi in South Korea but said it has not been formally canceled.
• The confrontation renews a trade fight that had cooled earlier this year when both countries suspended most triple-digit tariffs.