Tariffs on solar wafers, polysilicon, and certain tungsten products from China are going to rise dramatically come January 1st, 2025, the Biden administration announced Wednesday. That means higher price tags on key materials needed to make solar panels at a time when solar is the fastest growing source of electricity in the US.

Here's a look at how the showdown between the world's two largest economies played out the last time Trump was in office and where things might be headed now.

China pledged on Thursday to increase the budget deficit, issue more debt and loosen monetary policy to maintain a stable economic growth rate as it gears up for more trade tensions with the United States as Donald Trump returns to the White House.