The United States’ trade war with China continued this morning, even after the Trump administration last week paused tariffs on computer chips, smartphones, laptops and other tech products.

The pause is temporary, however, according to reporting by The Wall Street Journal: “Commerce Secretary Howard Lutnick warned Sunday that many tech products will still face separate levies in a month or two as part of an investigation into semiconductors under Section 232 trade law.”

Tech stocks rallied Friday last week on the reprieve, especially for such companies as Apple, Dell, Nvidia and Micron. Those markets are poised to trend upward today, despite news of the tech tariffs being temporary. According to The Wall Street Journal: “Tech gains also powered global markets higher Monday, with benchmarks in Japan and South Korea each adding roughly 1%. Hong Kong’s Hang Seng Index increased 2.4%.

Christophe Lavigne, president of Highfield Boats USA, which has a rigging factory in Cadillac, Mich., where RIB components from China are assembled, had gloomier news. The New York Times yesterday reported that Lavigne expects to be subjected to 198% tariffs on some of the goods he imports, and that he has paused incoming shipments.

Lavigne added that the future of the company, employees and dealers is on the line. “We cannot adjust our production lines quickly enough,” he told The New York Times. “Converting our entire supply chain in just two months is not feasible.”

In retaliation to the U.S.-imposed tariffs, China this week suspended the export of critical minerals and rare-earth materials, such as magnets, according to The New York Times: “Shipments of the magnets, essential for assembling everything from cars and drones to robots and missiles, have been halted at many Chinese ports while the Chinese government drafts a new regulatory system. Once in place, the new system could permanently prevent supplies from reaching certain companies, including American military contractors.”

Trade Only Today will continue to report on the tariff situation as it evolves.