Donald Trump’s team claim his tariff reversal was the “strategy all along” to isolate China. While the rest of the world now faces the baseline US tariff of 10%, goods from Beijing will now be subject to 125% import taxes. In return, China has retaliated and says it will not back down. David Lubin, economist and senior research fellow at the Chatham House think tank, explains why Trump is more likely to blink first, and what the trade war means for the rest of the world.

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