China has accused the United States of “provoking new economic and trade frictions” as it responded to US President Donald Trump’s claims that Beijing had violated a trade truce agreed by the two nations last month,

The trade dispute between the United States and China has intensified, with accusations flying and markets reacting. As both nations grapple with the fallout, the global economic landscape hangs in the balance.

A key component of the Biden administration’s China strategy was a focus on bolstering ties with allies and partners to counter Beijing’s growing global footprint. Trump’s approach to China — and the rest of the world — hinges on tariffs and trade. How effective is that?