In all the confusion of Donald Trump’s trade policies, two things have become clearer. First, that China is the White House’s main tariff target and, second, that Beijing has a strategy that may result in its economy coming out in better shape than America’s.
As Patrick Wintour explains for our big story, the Chinese government looks to have game-played how to “fight to the end” against Trump’s economic animus. Beijing’s signal to the rest of the world that it is committed to multilateral trade and remains a stable partner has been met with a guarded welcome in Europe.
