Nations are being forced to choose between siding with China or the U.S. as President Donald Trump’s trade war locks the world’s two largest economies on a collision course.

Russian President Vladimir Putin on Monday declared a three-day ceasefire in the war with Ukraine next month to mark the 80th anniversary of the victory of the Soviet Union and its allies in World War Two.

Billionaire hedge fund manager Bill Ackman said China will need to strike a trade deal with the US quickly as it can’t win a drawn-out trade war that will do severe damage to its economy.