This just got big. The burgeoning trade war between China and the US was mostly gesturing until now -- a few tens of billions worth of tariffs being chucked round. But Donald Trump has now taken it to a new level.
Trump this week announced tariffs on $200 billion of goods and pledged a further $267 billion worth if China dared retaliate. China, of course, retaliated. Sinophobic agent of chaos "Sloppy" Steve Bannon must about now be experiencing a great feeling of warmth. Which should send a chill through us all.