As China and US threaten more tariffs, the assumptions underlying global free trade system are coming into question.
US President Donald Trump is raising the stakes in his trade dispute with China, and also threatening to take aim at Europe.
On Thursday, his administration said it is considering an additional $100bn in tariffs aimed at Chinese imports.
The move was a response to China's matching an earlier $50bn set of levies proposed by Washington.
All of this may be just a negotiating position: most of the tariffs that Trump has proposed have not yet been implemented.
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