Economic acrimony has been bubbling between the US and China since Donald Trump became president. Now the tensions have boiled over into escalating tit-for-tat announcements of tariffs on key imports. This is serious not just for the US and China, but for the entire global economy and the UK, in particular, as it hopes for a free trade Brexit. As Christine Lagarde, the International Monetary Fund director, has warned: the world trade order “is now in danger of being torn apart”.
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