Donald Trump is set to impose broad tariffs on foreign goods, igniting fears of a trade war that challenges the global trading order established after World War II. As the European Union considers its response, strong retaliatory measures are hinted at by officials, including a range of options to target significant US exports. Unlike the EU, the UK aims to mitigate tensions with Trump by adjusting its digital services tax. The EU, however, remains cautious, balancing political impact of tariffs on US goods with the economic implications for its own market.
Donald Trump is preparing to impose immediate tariffs on all foreign goods, igniting a trade war and disrupting the multilateral trading system built post-World War II.
The EU has indicated that it will retaliate against Trump's tariffs, with the European Commission president stating a strong plan is in place if necessary.
Despite offers to increase US liquefied gas imports, EU officials remain skeptical about negotiations, highlighting contrasting approaches between the EU and UK regarding Trump.
The EU's method of retaliation includes targeting emblematic US goods like bourbon and Harley-Davidson motorcycles, with an emphasis on minimizing economic impact while maximizing political consequences.
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