Clash of the trade titans: How investors can take shelter

(above) A cargo ship at a Qingdao port in China, which is fighting Mr Trump with retaliatory tariffs. Mercedes-Benz cars at a port in Bremerhaven, northern Germany. Mr Trump had threatened to impose a 20 per cent tariff on all imports of European Union-as
(above) A cargo ship at a Qingdao port in China, which is fighting Mr Trump with retaliatory tariffs. Mercedes-Benz cars at a port in Bremerhaven, northern Germany. Mr Trump had threatened to impose a 20 per cent tariff on all imports of European Union-assembled cars.PHOTOS: AGENCE FRANCE-PRESSE, EPA-EFE
 A cargo ship at a Qingdao port in China, which is fighting Mr Trump with retaliatory tariffs. (above) Mercedes-Benz cars at a port in Bremerhaven, northern Germany. Mr Trump had threatened to impose a 20 per cent tariff on all imports of European Union-a
A cargo ship at a Qingdao port in China, which is fighting Mr Trump with retaliatory tariffs. (above) Mercedes-Benz cars at a port in Bremerhaven, northern Germany. Mr Trump had threatened to impose a 20 per cent tariff on all imports of European Union-assembled cars.PHOTOS: AGENCE FRANCE-PRESSE, EPA-EFE
Based on President Donald Trump's hard bargaining tactics so far, even if a trade truce is called on July 6, the US-China trade rivalry is not about to end. The first round of tariffs was quite confined. But the next round could hurt more and the punch wi
Based on President Donald Trump's hard bargaining tactics so far, even if a trade truce is called on July 6, the US-China trade rivalry is not about to end. The first round of tariffs was quite confined. But the next round could hurt more and the punch will be more significant.PHOTO: AGENCE FRANCE-PRESSE

The world looks set to be on the brink of a trade war.

In one corner is the United States, the heavyweight which holds most of the trump cards as it is fighting from a position of strength due to the strong US economy.

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A version of this article appeared in the print edition of The Sunday Times on July 01, 2018, with the headline 'Clash of the trade titans: How investors can take shelter'. Print Edition | Subscribe