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Under cloud of tariffs, a U.S. trade delegation arrives in Beijing

U.S. Secretary of Commerce Wilbur Ross. Photo: Alex Wong/Getty Images

A high-level delegation of U.S. officials led by Commerce Secretary Wilbur Ross is in China to "discuss rebalancing the bilateral economic relationship between the United States and China," according to a White House statement.

Why it matters: On Thursday, the Trump administration announced it will impose tariffs of 25% on steel and 10% on aluminum on countries within the European Union, as well as Canada and Mexico, just months after announcing similar tariffs on China.