Donald Trump's trade war on Xi Jinping's China is going as planned. Photo: Facebook Screengrab

Donald Trump’s trade war with China is producing one of the most tantalizing split screens in the history of global economics.

On one, the US president is going full bore against China and threatening a 104% tariff. This includes Vice President JD Vance dismissing the 1.4 billion-plus people generating the gross domestic product of Asia’s biggest economy as “Chinese peasants.”

On the other is Trump’s apparent willingness to talk to Japan, South Korea, Vietnam and other nations cowering in fear over reciprocal tariffs.

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