CRS, U.S.-China Trade Friction Expands to Export Controls, Chips, and Rare Earths Amid Summit Diplomacy

A CRS primer updated August 2026 details escalating U.S.-China trade tensions spanning IEEPA-based tariffs, PRC rare earth export controls, Nvidia H200 chip licensing, and congressional pushback on advanced semiconductor sales. Both sides agreed in May 2026 to form trade and investment boards to identify tariff-reduction candidates, while a year-long mutual pause on select tariff and export-control actions runs...