The news rippled through Wall Street, which had its worst day since the beginning of the year, as investors digested the prospect that the trade war could persist.

Takeaway: While China’s decision intensifies the continuing trade war, delaying the start of the higher tariffs leaves room to reach a deal that could end the standoff.

The move mirrors the Trump administration’s increased tariffs on Chinese goods. Those won’t bite immediately, either: They will apply to shipments that left China on Friday, which typically take two to four weeks by sea to reach the U.S.

Bigger picture: The question now is whether the U.S. and China can reach a deal this time. Negotiators have met 11 times, with both sides asserting that a deal was close, only for talks to fall apart at the last minute.

Related: The U.S. released a list of the items that would face a tax of as much as 25 percent. They include toys, shoes, coffee makers, watches, smartphones, fireworks, guns and much more.