A Latin term that’s been little-known outside the world of customs brokers has suddenly become the stuff of headlines. Along with imposing new 10% tariffs on all Chinese imports as of Feb. 4, US President Donald Trump suspended his country’s special rules for “de minimis” merchandise from China and Hong Kong.

China announced retaliatory tariffs on select American imports and an antitrust investigation into Google on Tuesday, just minutes after a sweeping levy on Chinese products imposed by U.S.

A Trump administration order over the weekend added a 10 percent tariff to goods from China and closed the de minimis exception, a loophole that lets packages valued under $800 enter the US duty-free. The new rules appear to have quickly resulted in people being asked to pay additional charges on many more shipments from China.

China is the world's top energy importer but its purchases from the United States are relatively modest, blunting the impact of Beijing's move on Tuesday to slap retaliatory tariffs on imports of U.S.

China is hitting back with tariffs of its own in response to the actions of President Trump. “This look is all about American exceptionalism,” she said of her pro-Trump ensemble on the Grammys red carpet.

US stocks open little moved by China's retaliatory tariffs. Mexico and Canada's tariff pauses suggests tariffs are negotiation tools, some say.

China alleges that the tariffs are based on unfounded and false allegations, and are in excess of the U.S.’s bound rates in a tariff agreement from 1994.