Ursula von der Leyen says EU “want to give negotiations a chance”, by pausing countermeasures for 90 days

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• US-China trade war intensifies as Beijing’s tariffs come into effect after Trump pause

China and the European Union have exchanged views on strengthening their economic and trade cooperation in response to US tariffs, the Chinese commerce ministry said on Thursday, according to Reuters news agency.

In a video call on Tuesday, China’s commerce minister Wang Wentao discussed with European trade and economic security commissioner Maros Sefcovic the restart of talks on trade relief and to immediately carry out negotiations on electric vehicle price commitments, the Chinese ministry statement said.

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The president’s imposition, then pausing, of tariffs has messed with financial markets and prompted accusations of insider trading

• US politics live – latest updates

The twists and turns in Donald Trump’s tariff war with the rest of the world has sent financial markets spinning. Stock markets have rebounded in the US and across Europe and Asia after the White House paused some of the most punitive import charges on Wednesday, except those on China. We look at what happened, and the likely effects.

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