The president deserves a Nobel prize in economics,” Trump aide Peter Navarro claimed, “for proving that the US can bend global commerce to its will.”But instead of bending the world into alignment, Trump’s trade war is pushing it away.

President Trump’s order continues a reprieve from the threat of escalating tariffs and export controls, which rocked the global economy earlier this year.

President Donald Trump’s tariff war is accelerating Beijing’s trade and investment push into developing nations known as the Global South, according to research by S&P Global, potentially creating a new trade order dominated by Chinese firms.