New Delhi, Oct. 22 -- China and the US are at it again, threatening each other with tariffs and other punitive measures. Mint delves into the latest escalation in their ongoing trade war, what triggered it, the progress of China-US trade talks, and what it could mean for economies like India.

The answer depends on whom you ask. The US points to China's new export controls on rare earth minerals, imposed on 9 October. President Donald Trump called the move "extremely hostile" and threatened to levy an additional 100% duty on Chinese imports from 1 November, alongside export controls on critical software.

China, meanwhile, says its actions were in response to the US expanding the Entity List, restricting China's access to advanced semicon...