Beijing is stacking up its bargaining chips ahead of expected U.S.-China talks when Presidents Donald Trump and Xi Jinping visit South Korea's Gyeongju, announcing new export controls to tighten its grip over high-tech manufacturing supply chains.

The president is threatening to widen his trade war against China as tariffs on timber, lumber, kitchen cabinets and other products took effect on Tuesday.

U.S. stock futures were back in the red Tuesday morning as global equity markets were caught up in another selloff. S&P 500 futures were off by 66 points, or 1%, at 6,627. Nasdaq-100 futures were off by 317 points,

China has accused the US of being hypocritical, pointing out that the Trump administration had taken aggressive moves against Chinese companies since Bessent and He Lifeng held their previous meeting in Madrid last month. The US has rejected the claim, saying China had been preparing the new export controls long before its actions.

A new analysis found that nearly 700 drugs approved for use in the United States depend on chemicals solely produced in China.

Given this background, it becomes easy to understand how, in this scenario, China has become a global leader in the clean energy transition. Xi's speech did not go into much detail, but it did mention all the main points of China's strategy.

The Trump administration's $20 billion bailout of the Argentine economy has raised questions given the scant details.

Rigetti Computing shares are trading lower Tuesday morning, a day after the quantum computing firm surged to a new all-time high.