President Donald Trump’s tariff war is accelerating Beijing’s trade and investment push into developing nations known as the Global South, according to research by S&P Global, potentially creating a new trade order dominated by Chinese firms.

President Trump’s order continues a reprieve from the threat of escalating tariffs and export controls, which rocked the global economy earlier this year.

Deep dive into 2025’s shifting U.S. tariffs, from ‘Liberation Day’ to China and India moves, with inflation impacts, court challenges, and holiday retail risks.