Some elements of Trump’s renewed trade war are unsurprising. The second Trump Administration was always going to involve further disruption of US-China trade. It was also not surprising to see back-pedaling from the April 2nd global scattershot tariffs once a recession loomed, with the oil price briefly diving below $60 alongside a bond market selloff. As things stand, US tariffs on China can be added up to an absurd 245%, which consists of 125% ‘reciprocal’, 20% ‘to address the fentanyl crisis’, plus the pre-existing Section 301 tariffs on a variety of goods, varying from 7.5% to 100%. US renewables will be further disrupted, especially on batteries, but the policy environment was already hostile anyway. Oddly enough, solar module frames are…