China has moved quickly to strike back against Trump's latest tariff plans. The Chinese governments on Tuesday announced retaliatory tariffs on some U.S. goods of up to 15%, starting on March 10, as well as new export controls.

Washington – President Donald Trump launched a trade war Tuesday against America’s three biggest trading partners, drawing immediate retaliation from Mexico, Canada and China and sending financial markets into a tailspin as the U.S. faced the threat of rekindled inflation and paralyzing uncertainty for business.

Asian stock markets tracked higher Wednesday after leaders at the National People's Congress in Beijing vowed that China's economy would expand at the planned 5% in 2025, and following US Commerce Secretary Howard Lutnick tempered statements on tariffs.

NBC News National Political Correspondent Steve Kornacki joins Meet the Press to examine how the U.S. economy is responding to President Donald Trump’s trade policies. Commerce Sec. Howard Lutnick defends the president as he delays steep tariffs on America’s largest partners.

Stock markets staged a relief rally after US Commerce Secretary Howard Lutnick said the Trump administration may walk back some tariffs. Hong Kong shares led gains as China’s economic growth target spurs bets of more stimulus.

(Pool via AP) Demonstrators hold sympathetic to the Beijing protesting students ... Was Right About Everything” as he talks to reporters while Commerce Secretary Howard Lutnick, and White House press secretary Karoline Leavitt, back center, watch ...

Commerce Secretary Howard Lutnick said there might be carveouts ... Mexico indicated it would announce its own countermeasures on Sunday. Beijing responded with tariffs of up to 15% on a wide ...

US tariffs against Canada and Mexico are set to come into effect on Tuesday but their level will be decided by Donald Trump, the US commerce secretary has said.

WASHINGTON -- Commerce Secretary Howard Lutnick said there might be carveouts ... it would announce its own countermeasures on Sunday. Beijing responded with tariffs of up to 15% on a wide array ...

Stock markets staged a relief rally after US Commerce Secretary Howard Lutnick said the Trump administration may walk back some tariffs. Hong Kong shares led gains as China's economic growth target spurs bets of more stimulus.