China warned the Trump administration on Tuesday against reigniting trade tension by restoring tariffs on its goods next month, and threatened to retaliate against nations that strike deals with the United States to cut China out of supply chains.

The reimposition of Trump's higher tariffs, and also retaliatory measures from U.S. trading partners who did not reach a deal in time, threatens to pull global trade back to where it was in April, with widespread disruption, market volatility, and looming economic pain.

The latest BRICS summit in Rio de Janeiro has drawn sharp criticism from US President Donald Trump, who threatened an additional 10% tariff on nations aligning with what he called “anti-American” policies of the BRICS group.