President Donald Trump took to Truth Social and threatened to terminate business with China “having to do with cooking oil” among other “elements of trade” in response to China slashing imports of U.S.

The U.S.–China trade war has entered a new phase as former President Trump pushes for a ban on Chinese cooking oil imports. The move has rattled markets and reignited debates about economic nationalism.

The US administration threatened on Tuesday to halt purchases of Chinese cooking oil in response to China’s reduced imports of American soybeans. But an industry insider told the Global Times on Wednesday that Washington’s claim about “terminating business with China related to cooking oil” likely refers to suspending imports of China’s used cooking oil (UCO).

Following months of supply chain adjustments, Cook reassured Beijing that the company remains committed to investing in the region.

Apple's Tim Cook pledged to boost the tech giant's investment in China on Wednesday as it navigates the trade war between Beijing and Washington.

"Without establishing a long-term strategy, any deal Trump signs will fall short of what both countries need."