As Donald Trump’s April 2 “Liberation Day” for announcing “reciprocal” tariffs on America’s trading partners approaches, the question in Beijing is whether this will be the moment when its nascent trade war with the US really escalates.

The Trump administration’s tariffs on countries like China, Canada, and Mexico are raising concerns of a global trade war. Recent actions include a 25 per cent tariff on auto imports and reciprocal tariffs affecting various goods,

South Korea, China and Japan held their first economic dialog in five years on Sunday, seeking to facilitate regional trade as the three Asian export powers brace from U.S. President Donald Trump's tariffs.