China-U.S. trade turmoil

China has expanded export controls on rare earth elements following Washington's new measures that Beijing regards as violating the Madrid agreement. In response, the U.S. president has threatened a 100-percent tariff on Chinese goods. Why does Washington continue to impose punitive measures on China despite the Madrid agreement? What does Beijing's tightening of rare earth exports mean for U.S. industries? As the U.S. imposes new fees on Chinese vessels and Beijing prepares to respond, are we witnessing the start of another round of trade war between the two sides?