China's economy has slowed to its lowest growth rate in almost three decades, suggesting the trade war with Donald Trump is taking its toll. Demand for Chinese exports has faltered in the face of mounting US trade pressure. Washington sharply raised tariffs on Chinese goods in May and, although the two sides have since agreed to hold off on further punitive action and resume trade talks, they remain at odds over key issues.
The world's two largest economies have been locked in a bitter trade battle.
The dispute has seen the US and China impose tariffs on hundreds of billions of dollars worth of one another's goods.
US President Donald Trump has long accused China of unfair trading practices and intellectual property theft.
Negotiations are ongoing but have proven difficult. In January, the two sides signed a preliminary deal but some of the thorniest issues remain unresolved.
Mr Trump's tariffs policy aims to encourage consumers to buy American products by making imported goods more expensive.
The US has imposed tariffs on more than $360bn (£268bn) of Chinese goods, and China has retaliated with tariffs on more than $110bn of US products.
Washington delivered three rounds of tariffs in 2018, and a fourth one in September last year. The most recent round targeted Chinese imports, from meat to musical instruments, with a 15% duty.
Beijing hit back with tariffs ranging from 5% to 25% on US goods.
Under the so-called "phase one" deal signed in January, China pledged to boost US imports by $200bn above 2017 levels and strengthen intellectual property rules.
The European Union and the United States are each other’s largest export markets. A trans-Atlantic trade war, whether launched over protectionist grievances or in the pursuit of slowing climate change, would prove devastating to both economies.
Trump has long complained about European trade unfairness, particularly the $169 billion annual merchandise trade deficit the United States runs with the European Union.
Now Washington is reportedly mulling boosting tariffs on European products to pressure Brussels to further curb its subsidies to the European aircraft-maker Airbus.
The new European Commission has promised to put forward a draft European climate law by March in an effort to decarbonize the EU economy by 2050. Any such laws would have confrontation with the Trump administration written all over them.
The EU may put up a carbon border tax, which would hit U.S. exports of coal, natural gas, steel, and many manufactured products hard.
In other words, the EU would put up a carbon border tax, which would hit U.S. exports of coal, natural gas, steel, and many manufactured products hard.
Having achieved a trade truce with China, the Trump administration now risks confrontation with Europe. Without an early and forceful intervention, 2020 could well prove to be another year of living dangerously