Nvidia executives struck a cautious note on the company’s China business during its quarterly earnings call Wednesday. CEO Jensen Huang clarified the company’s China sales are half of what they were before the U.

After a slower than expected start, the trade war between the US and China has begun to heat up, with President Donald Trump announcing a dizzying series of actions against China in the past seven days — and more to come over the next month.

US President Donald Trump threatened to double existing tariffs on China to 20% from next week, piling further pressure on the country’s beleaguered economy. Chinese stocks tanked after Beijing vowed to respond with “all necessary measures” against Trump’s plan.