Donald Trump’s latest tariff hikes threaten to inflict a bigger hit on China’s economy than it suffered during his first trade war.

China has vowed to hit back after President Donald Trump announced major new tariffs on its exports to the United States as part of his radical overhaul of a century of American global trade policy.

"There seems to be no order in the disorder, no clear path to the complexity and chaos that is being created," Ursula von der Leyen said.