Hello. China has been hit by a new 104% tariff on goods imported to the US, as steeper levies on several countries come into force. From Ecuador, our South America correspondent Ione Wells reports on how the small country has become one of the main exporters feeding a growing global demand for cocaine. And finally, watch as my colleague John Maguire learns why it's best not to work with animals on live television.

TOP OF THE AGENDA

China positions itself as 'free trade champion' as tariffs hit

The relationship between the US and China has deteriorated from Trump's first term in office. Credit: Reuters

Tariffs on China have hit 104%, but the US's biggest economic rival is standing firm against what it calls the "bully" regime of President Trump. The country is positioning itself as a free trade champion, our China correspondent Stephen McDonell reports. The economic uncertainty created by new, higher import taxes on about 60 countries has seen European stocks slumping and major Asian markets extending their losses when they opened on Wednesday morning, while our economics editor Faisal Islam reports on “aggressive” selling of long term US government bonds. But the US president has insisted his tariffs will be "legendary, in a positive way".

• Hardest hit: The economic development of countries such as Vietnam and Cambodia - who face some of the highest tariffs - "is now imperilled", writes South East Asia correspondent Jonathan Head.

• Closer to home: Trump has ripped up rulebook on trade and businesses are left reeling and in flux, writes US business reporter Natalie Sherman.

• US boycott: As anger grows over Trump's tariffs, apps and social media groups are helping Canadians and Danes avoid US goods.

WORLD HEADLINES

BEYOND THE HEADLINES

Tracking the world's major cocaine route to Europe - and why it's growing

The amount of cocaine being smuggled out of Ecuador is at a record high. Credit: BBC

Global cocaine consumption has hit record levels, particularly in Europe, fuelling the deadly trade. Ecuador doesn't produce the drug but 70% of the world's cocaine now flows through its ports, according to the country's president. Ione Wells speaks to people in the supply chain to understand the impact of the trade, why this crisis is worsening.