Trump Threatens EU To Impose 30% Tariff, Increasing Risk Of Global Trade War

Former U.S. President Donald Trump recently issued an “ultimatum” to the European Union, demanding that it reach a trade agreement by August 1, otherwise it will impose a 30% tariff on EU goods. The European Commission has postponed countermeasures, but there are still serious differences between the two sides on issues such as agriculture and digital taxes. Economists warn global growth could be hit hard if trade war breaks out.