Donald Trump looks set to reignite his tariff war with China when he returns to the White House. But a different and friendlier region will become collateral damage. Europe may well be faced with its own Trump tariffs but it’s those aimed at Beijing that could be more detrimental for the region.

A senior trade official cautions Chinese companies to not invest there if they only want to mask their merchandise's country of origin.

While China could offset American tariffs by letting its currency fall, that might endanger Beijing’s recent efforts to stabilize the economy.