During his first term in office, Trump imposed tariffs on more than $360 billion worth of Chinese products. The tariffs put the brakes on a fairly steady rise in Chinese exports to the U.S. They fell at first, then bounced back as the U.S. economy boomed, before leveling off at $500 billion last year.

President-elect Donald Trump vowed additional tariffs on China as well as US neighbors Canada and Mexico, roiling markets with his first specific threat to curb global trade flows since his election win.

The U.S. dollar rose on Tuesday after President-elect Donald Trump said he would impose tariffs on products coming into the United States from Mexico, Canada and China, as investors braced for polices that could set the stage for a trade war.