Donald Trump, once more, is moving to slash imports from China. Just like in his first term, the returning U.S. president wants to decouple from the world’s second-largest economy and establish self-sufficiency in key strategic sectors.

China’s economy faces a lingering property slump, chronic deflation and an intensifying trade war. The government’s response has too much of what Mr Trump sorely lacks: caution. In his report, China’s prime minister announced the same official economic growth target as last year: about 5%.

Canada and China hit back swiftly after Trump's sweeping tariffs took effect Tuesday, raising fears of a global trade war. International markets, meanwhile, continued to slide.

China has warned that it’s ready to fight “any type” of war amid President Donald Trump’s increasing trade tariffs on the country. Earlier this week, Trump announced an additional 10% tariff on China on top of a 10% increase he had already imposed in February.