The Trump administration has announced a new 40% tariff on transshipments in a move primarily targeting China.

President Trump’s executive order carved out a special tariff on goods shipped indirectly to the United States by way of other countries.

U.S. and Chinese officials agreed to seek an extension of their 90-day tariff truce on Tuesday, following two days of what both sides described as constructive talks in Stockholm aimed at defusing an escalating trade war between the world's two biggest economies that threatens global growth.