The Chinese coastguard has seized a tiny sandbank in the South China Sea, state media has reported, in an escalation of a regional dispute with the Philippines. State broadcaster CCTV released images of four officers,

Chinese coastguard officers have seized a strip of land in the South China Sea in a major escalation of a territorial dispute with the Philippines. State broadcaster CCTV released images showing four officers in black uniforms holding the Chinese flag whilst standing on Sandy Cay in the Spratly Islands.

Also in today’s newsletter, tariff-fuelled demand slump hits US ports and air freight, and Vanguard rules out China