Trump calls tariffs America's "big power over China," but analysts say Beijing may be better prepared than ever to engage in a trade war with the U.S.

President Donald Trump’s renewed pledges to slap 25% tariffs on imports from Canada and Mexico on Feb. 1 jolted foreign exchange markets late in the New York trading session, sending currencies from both countries plunging against the US dollar.

President Donald Trump on Tuesday warned that even more tariffs could be coming as soon as next week: This time China was his target, as Trump threatened to unleash a wave of higher taxes on imports from America’s second-biggest trading partner.