Donald Trump’s “liberation day” US tariffs on imported goods from a long list of international territories – including some inhabited only by penguins – sparked market turmoil and fears of a global recession.
As the chaos continued into this week, the question loomed of how the world, from China to Europe, would respond. An increasingly dark-looking spiral with China of tariff threats and counter-threats this week led Beijing to vow to “fight to the end”, while vice-president JD Vance again showed his lack of class by referring to “Chinese peasants” in an interview.
