The US-China trade war and implications for Europe and the UK

Donald Trump and Xi Jinping are engaged in a high-stakes game of chicken in the emerging trade war. With more than 150% tariffs on Chinese goods and a reciprocal response from Beijing on US imports, economic relations between the two sides have essentially come to a halt. Lack of clarity around the US endgame creates additional concerns among industries and all signs are pointing towards accelerated decoupling. Is there still an off-ramp? Who will be able to better withstand the pressure on their respective economies? How does the US approach impact on the European Union’s relations with China and its strategy of ‘de-risking’? And as Britain looks to reset its relationship with China, how should the current environment reshape the long-term approach to Beijing?