The chief economist of Berenberg Bank told DW Business that a trade war between the United states and China has become "a clear and present danger" for the world economy after Donald Trump's victory.
The White House plans to use emergency laws to curb Chinese investments in US technologies. Originally meant to fight rogue states and terrorism, the laws allow the president to block transactions and seize assets.
The EU and Mexico have agreed "in principle" to update their 18-year-old trade deal. The move sends a message to the US after President Donald Trump announced a series of protectionist trade measures.
The Trump administration has ordered government agencies to expedite and expand arms sales abroad, including exports of advanced drones to reinforce allied armies and to compete with China.
In the trade war with the US, Chinese President Xi Jinping has promised to open markets further. President Donald Trump seems willing to show some leeway, says DW’s Frank Sieren.
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