It's official. Trump's tariffs on the world, but especially on China, are making the whole world poorer. Trump wants China to make a deal - but he set the terms of the negotiation in such a way as to make it certain they won't respond. Meanwhile, the punitive tariffs Trump has imposed on China, and the corresponding equal tariffs placed by Beijing on the US, is starting to make itself felt. Major retailers are warning about imminent empty shelves. Tech firms are unable to continue with products requiring certain materials, such as rare earth magnets. And Trump is under more and more pressure to respond to China on its terms - in other words, to drop the additional tariffs before talks can start. But that would require a major u-turn. Will Trump do it? And how much damage will be done before it's settled?