World requires fairer trade order, now

In this age of trade wars, tariffs and geopolitical posturing, the global economy seems to have become a chessboard, and the US and China the grandmasters. But with the pieces shifting and power play unfolding, one thing has become glaringly obvious: the old rules can no longer govern the game.

On April 2, US President Donald Trump announced sweeping tariffs, starting with a 10 percent baseline, on about 60 trade partners. The rates were even higher for several countries, including 34 percent on China.

The reality is that the US tariff war is here to stay. As such the issue isn't only about China; it's about the future of the entire global trade system.