China announced Monday that it rejects accusations made by the Trump administration that it has broken terms in regard to the recent trade deal made between the two nations.

In response to President Trump’s claim, China said the United States was the one introducing a series of “discriminatory restrictive measures.”

China and the United States are accusing each other of reneging on their tariff truce as tensions rise over rare earths exports, computer chips and student visas.

President Donald Trump is using his love of tariffs to threaten high-profile American companies. Over the past month, Trump has said he’d like to target two specific and very different companies – Apple and Mattel – with tariffs aimed at their key products over comments by their CEOs.

Wall Street's main indexes dipped on Monday after President Donald Trump said he plans to double tariffs on imported steel and aluminum, fueling more uncertainty around U.S. trade policies. Trump said late on Friday he planned to increase tariffs on imported steel and aluminum to 50% from 25% starting Wednesday,

During a rally at a steel plant the US president announced that he will double tariffs on steel imports. Afterwards, he announced the same for aluminium. The measure, which would hit Europe hard, is supposed to come into force on 4 June.