China’s exports to developing markets have soared, opening indirect routes to the U.S. market that officials in Beijing worry may be closed under pressure from President Trump.

Donald Trump threatened on Wednesday to escalate a global trade war with further tariffs on European Union goods, as major U.S. trading partners said they would retaliate for trade barriers already erected by the U.

President Trump is locked in a tit-for-tat tariff war with Canada, Mexico, the European Union and China in a bid to remake the US economy for the long term – and some early winners and losers have already emerged.