Launceston, Australia — US President Donald Trump has inadvertently admitted that the US no longer holds the whip hand in the ongoing trade dispute with China, after backtracking on his latest escalation of the tariff war.

Tariffs of 10% were due to be imposed on the remaining $300bn worth of annual imports from China on September 1, but some will now only come into effect on December 15, the office of the US trade representative announced on Wednesday...

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