The U.S. on Sunday imposed 15 % tariffs on a variety of Chinese goods and China began imposing new duties on U.S. crude and other products in the latest escalation in the prolonged trade war trade.financial.tension between the world 's two largest economies .

The trade war trade.financial.tension between the U.S. and China is `` on hold '' as the two work on a trade agreement , U.S. Treasury Secretary Steven Mnuchin said on Sunday .

Over the weekend , the Sino-U.S. trade war trade.financial.tension intensified Situation_deteriorate again as U.S. tariffs on 15 % on Chinese goods including footwear , smart watches and flat-panel televisions took effect .

The news has increased Situation_deteriorate trade tensions trade.financial.tension between the two biggest economies in the world and risen investor fear of a trade war trade.financial.tension .

Investing.com - Oil prices were higher Movement.up.gain on Monday as the U.S. and China has put their trade war trade.financial.tension `` on hold '' to discuss a trade agreement .

Investing.com - Oil prices fell Movement.down.loss on Monday , as concern Negative_sentiment of a trade war trade.financial.tension between the U.S. and China resurfaced .

Crude prices settled near flat Movement.flat Monday as continued worries Negative_sentiment about the U.S.-China trade war trade.financial.tension offset initial highs Position.high reached by the market on a U.S. decision to stop protecting Kurdish rebels in Syria .

`` We 're gyrating between two stories -- a trade war trade.financial.tension and a shooting war Geopolitical.tension , '' said Helima Croft , chief commodities strategist at RBC Capital Markets in New York .

Investing.com - Oil prices fell Movement.down.loss around 2 % on Tuesday , pressured lower Movement.down.loss by fears over the impact of U.S.-China trade war trade.financial.tension on the global economy and rising Movement.up.gain OPEC output .