I don't see any upside for us if Trump chooses to escalate the trade war with China. We can only hope that no one else follows his example, but the US will exert pressure on their allies to join them.
Countries with few exports to China may do so. However, that will likely not include the UK as they have recently joined the CPTPP (Trans-Pacific Partnership trade block), and China is a major trading partner of most of the other member nations. China has also applied to join, but even without this their exports could be easily channeled to the UK via a third party CPTPP member, making any import tariffs very hard for the UK to enforce. Ditto for all other CPTPP members, and probably the wider LatAm region as well, since Mexico, Peru, and Chile are also members.
Actually, having said all that, it seems plain that only the EU is likely to consider joining Trump in a trade war, and we already know they are not going to be very committed to the idea.
All IMO.
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