The tariff wars continue with no end in sight. Just a few weeks ago, markets were celebrating what looked like an end to the trade conflict between the US and China. But Trump has changed his tune.
After securing a trade truce with China, the US president has now turned to the EU. Trump threatened car tariffs if European countries implement a digital tax. The EU says a new deal could come "in a few weeks."
In Washington to smooth out trade differences with the Trump administration, an EU commissioner said the subject of car tariffs did not come up. German carmakers will be happy to see the issue off the negotiating table.
China and the US have done a deal. But a longer-term view suggests trade tensions between the pair will only grow. What will that mean for the network of nations trading extensively with both?
Annegret Kramp-Karrenbauer has revealed that Donald Trump threatened punitive auto tariffs if Europe kept backing the Iran nuclear deal. She also said a post-Brexit UK would align closer to Washington than Brussels.
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