The flurry of punitive measures taken against China by the Trump administration over the last few days was prompted by a belief among US officials that China has failed to live up to commitments it made in trade talks earlier this month,

China reiterated its call for the U.S. to abolish its tariffs after a panel of federal judges ruled that President Donald Trump did not have the authority to introduce them under the emergency powers he had used.

Even as Nvidia reported another blockbuster quarter of 69% sales growth on Wednesday, the maker of artificial intelligence chips warned of more risks to its business emerging in the technology conflict between the U.

A one-two punch from the United States risks shattering the already fragile trade war truce between Washington and Beijing, with Chinese tech companies and students both dealt shock blows by the Trump administration Wednesday night.

In a statement late Wednesday, the State Department announced it was focusing on those who were studying in “critical fields” or who had ties to the Chinese Communist Party and was revising visa criteria to “enhance scrutiny” of all future applications from China, including Hong Kong.

"TACO trade," which stands for "Trump always chickens out," was coined by Financial Times columnist Robert Armstrong but has since spread across Wall Street and the internet, mocking the president's back-and-forth on tariff policies.

The Trump administration has effectively cut off some American companies from selling software used to design semiconductors to China, the Financial Times reported on Wednesday. Impacted companies include Cadence,

These include the "fentanyl tariffs," Trump imposed at the outset of his second term, the "reciprocal tariffs" he announced on April 9 (which so far have extended only to China), and the de minimis tariffs on low-cost imports from China.