‘The sky won’t fall’: China plays down Trump tariff risks as stock markets rally

Chinese customs official says trade has diversified away from US in recent years and plays up vast domestic market'

China has played down the risk of damage to its exports from Donald Trump's tariffs, with an official saying the sky won't fall", as stock markets rose amid signs of a retreat on electronics restrictions.

The US president claimed his strategy was working on Monday, with record levels of investment. Addressing reporters at the White House, he continued to threaten new tariffs on pharmaceutical goods.