President Trump is locked in a tit-for-tat tariff war with Canada, Mexico, the European Union and China in a bid to remake the US economy for the long term – and some early winners and losers have already emerged.

Beijing, which set steep duties on canola, peas and pork, wants Canada and Mexico to resist U.S. pressure to raise tariffs on Chinese goods.

EU foreign policy chief Kaja Kallas told Bloomberg that China is the country that stands to benefit the most from a trade war between the U.S. and EU. Her comments come as the EU imposed 50% tariffs on American whiskey in retaliation for U.S. tariffs on steel and aluminum imports.