In response to US president Donald Trump’s announcement of sweeping, unprecedented tariffs on every country around the world, a global trade war erupted, causing a market meltdown and significant stock value losses on Wall Street. The tariffs affected even uninhabited territories, such as Heard Island and McDonald Islands, demonstrating the far-reaching impact of Trump’s actions. The future implications of these tariffs on the global economy remain uncertain, leaving many wondering what will happen next.
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Brussels eyes fresh retaliation as it struggles to counter Trump tariffs
The European Commission plans to propose retaliatory measures against US tariffs, aiming to negotiate but facing worsening trade tensions initiated by President Trump. Brussels has reduced its countermeasures on US goods following lobbying by member states, with products like bourbon and wine removed to protect food and drinks industries. Talks with the US have been fruitless so far, with the EU rejecting complaints beyond tariffs, and hoping US economic pressure may lead to a change...
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