President Xi Jinping told Spain's prime minister on Friday that China and the European Union must join together in defending globalization and opposing "unilateral acts of bullying," in a clear swipe at U.

President Donald Trump’s rapid-fire trade war has set in motion a commercial rupture without precedent, which is rippling through the global economy in unpredictable and costly ways. The triple-digit taxes that the president has imposed on Chinese products — and China’s retaliatory measures — are expected to shrink trade between the world’s two largest economies from a recent annual peak of nearly $700 billion to almost nothing.