U.S.-China trade conflicts under the administration of U.S. President Donald Trump appear to be ramping up, not ramping down as many businesses had hoped earlier this year.

Stocks tumbled on August 5, following China’s announcement that it would stop buying many U.S. farm products, and would devalue its currency in retaliation for the Trump administration’s pledge to impose an additional 10% tariff on the final $300 billion group of products imported from China on September 1. The group includes everything from imported cod fillets to TVs and electric razors.