By targeting allies and neighbours with tariffs, the US is playing into the hands of China. “Our strategy on tariffs will be to shoot first and ask questions later.” That was what one of Donald Trump’s key economic policymakers told me late last year.

U.S. President Donald Trump said the sweeping tariffs that he has imposed on Mexico, Canada and China may cause "short term" pain for Americans, while EU leaders gathered on Monday amid threats the bloc will also face punishing U.

Trump said in a Truth Social post that his tariffs would be worth the “price that will be paid” by American consumers.