Japan’s economy risks taking another hit if US President Donald Trump slaps fresh tariffs on China, sparking a renewed US-China trade war, according the government’s chief economist.

U.S. President Donald Trump’s high-stakes bid to use natural gas exports as leverage to expand U.S. influence in Europe and Asia appears to be gaining traction.

Manufacturers from Asia, Europe and elsewhere have poured billions into North American supply chains that could be hit by new taxes on Mexico, Canada and China.

If U.S. President Donald Trump follows through on his pledge to slap 25% tariffs on imports from Mexico it could usher in a volatile new chapter in the longstanding trade relationship with the impacts hitting consumers.

As President Donald Trump threatens to impose his first tranche of tariffs on the world Saturday, Chinese manufacturers are bracing for impact.

Trump has threatened a 10% levy from 1 February - but his campaign included 60% tariffs against Chinese imports.

Japan’s economy risks taking another hit if US President Donald Trump slaps fresh tariffs on China, sparking a renewed US-China trade war, according the government’s chief economist.

Donald Trump has wasted no time in making sweeping changes to US economic policy. On his first day back in the White House, on January 20, he announced a series of executive orders and threats to impose tariffs on key trading partners by February 1.