New Delhi, May 1 -- The United States and China remain in a standoff in their tariff war. Neither side appears willing to budge.

After US President Donald Trump imposed massive 145 per cent tariffs on Chinese imports in early April, China retaliated with its own tariffs of 125 per cent on US goods.

US Treasury Secretary Scott Bessent said this week it's up to China to de-escalate tensions. China's Foreign Ministry, meanwhile, said the two sides are not talking.

The prospect of economic decoupling between the world's two largest economies is no longer speculative. It is becoming a hard reality. While many observers debate who might "win" the trade war, the more likely outcome is that everyone loses.

Convenient target Trump's protectio...