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European consumers are facing higher prices on a range of goods due to trade tensions between the White House and Brussels, with the European Commission announcing retaliatory measures against the U.S.’s 25% tariffs on aluminum and steel imports. The EU’s response targets $28.3 billion worth of American goods, including agricultural produce, household items, and fashion garments, leading to increased uncertainty for businesses and consumers in both regions. Despite the limited immediate macroeconomic impact, the ongoing trade dispute could further escalate, with U.S. President Donald Trump threatening additional tariffs and the EU preparing to implement further measures.
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