The deficit that triggered the world's biggest trade war

At least 12 rounds of failed negotiations, three rounds of new tariffs (tax on imports) and hundreds of tweets haven't settled the raging trade dispute between the US and China, the world's two largest economies. The ongoing tussle, that has intensified after US President Donald Trump effectively barred Chinese telecom giant Huawei from the US market, is fuelling fears about damage to global economic growth. The International Monetary Fund (IMF) said US-China trade tension had contributed to a "significantly weakened global expansion" late last year, as it cut its global growth forecast for 2019. Its chief Christine Lagarde warned that fresh trade tensions between the two superpowers were a threat to the world economy.