US president says time it right for tariffs as ‘we’re playing with the bank’s money’

Matching the US president tariff for tariff will at some point become counter-productive

Low-key announcement is important — and looks deliberate

An EU-UK customs union without free movement of people would be problematic for many reasons

Countries are more likely to retaliate than capitulate to US demands

Unless trade tensions can be defused, the US will have to find new markets for its cheese

Trade agreements, even among so-called friends, quickly get complicated

The only new contenders are China and the EU, but each fails one of the job specifications

The signs are that it is going to be a long hot summer for transatlantic relations

A big part of the US president’s economic legacy is about to be written

President’s dispute with Beijing more dangerous than one with Canada and Mexico

Brussels’ best option is to offer no concessions and strive to be the trendsetter for global trade

Any agreement struck is likely to encounter a difficult path through Congress

A bilateral trade deal with Japan could represent a political win for both Trump and Abe

Threats and counter-threats have been made, and neither side is willing to budge

Future historians will argue about whether to blame US belligerence or Chinese provocation

As trade war fears cause financial markets to reel, a broader view supports a still positive outlook

There are fears the Single Market could be undermined by recognising foreign regulations as equivalent

US president is testing one of the WTO’s most sacrosanct loopholes

US president’s plans for steel and aluminium duties cannot be classed as smart or sensible

UK’s hopes for mutual recognition agreements reflect wishful thinking

Chinese hacking of trade secrets helped fuel demand for radical action, regardless of consequences

Shadows of intellectual groundwork are likely to hang over major acts of policy

The president knows invoking such imbalances can be a winning political formula