Barely a week after Donald Trump agreed to a ceasefire in his trade war with Europe, the US president has dramatically upped the ante in his battle with China by proposing even higher tariffs on Chinese imports.
The threat to raise duties on some $200bn of Chinese goods from 10 to 25 per cent took some by surprise since it came just after Mr Trump had eased concerns in the US about trade friction with Europe.
But the escalation — which Beijing described as “blackmail” — suggests that Mr Trump has decided to focus his firepower on China as he gears up for the critical midterm elections in November.
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