Asian and European markets are nosediving for a third straight day as Donald Trump doubles down on tariffs. Weighing further on investors, China is the first to pull the trigger on reciprocal tariffs. For the Europeans, is it best to wait and let the markets temper Trump's zeal for trade barriers? Or does retribution require nerves of steel?

Last week, France and Germany called on the European Union to hit the US where it hurts: its tech sector.

But just as the Covid pandemic made Europe realise how overdependent it is on Chinese manufactured goods and medicines, is the Old Continent just now waking up to the reality that in an increasingly demonetised world, the US controls both the software and the financing of our daily transactions? 

Produced by Rebecca Gnignati, Ilayda Habip and Oihana Almandoz.