As China prepares to impose new tariffs on America worth £35 billion, Sky’s Ian King speaks to Desmond Lachman, a former deputy director at the IMF’s Policy Development and Review Department and Dr Rebecca Harding, economist and founder of Equant-Analytics, on the damage a trade war could do to both the US and the UK. Lachman says Trump is having to pay a “heavy price” for announcing a series of import tariffs on China and “should listen to the markets.” Trade fears caused Wall Street to open sharply lower on Wednesday and also weighed global stocks.