China is facing a double whammy: corrosive deflation and tariffs that threaten to block trade. Chinese workers will be the biggest casualties.

The move comes before President Trump’s planned imposition of new tariffs on small packages sent to the United States from Hong Kong and China.

Beijing’s retaliation came after the White House ratcheted up its tariff on Chinese goods to 125 percent, on top of an existing 20 percent tax.

A deepening trade war could further weaken ties between the superpowers. The effects will reverberate everywhere.

Plus, the theme park wars heat up.

President Trump’s policies are straining trade ties and challenging a long-held truth in China about the centrality of the U.S. market.

Beijing’s threat to stop a tycoon’s sale of his ports business has dealmakers wondering if they can still operate without political interference.