Even as the White House lauded China’s role in securing a long-awaited ceasefire that lifted global markets, US President Donald Trump reignited trade tensions by threatening a new 50 per cent tariff on countries supplying weapons to Iran, while Tehran kept the Strait of Hormuz closed and warned it could abandon the deal if Israeli attacks on Lebanon continue. “There were conversations that took place between top levels of our government and China’s government,” Trump’s spokeswoman Karoline...