Donald Trump has indicated that he examining further tariffs on the EU and has said he will soon impose reciprocal tariffs on all countries, matching the tariffs levied by them.
If the White House applies reciprocal tariffs based on existing levies on US exports then the UK will likely come out unscathed in a trade war, as economists predict it will mean a charge of just 1pc on exports to the US.
Brazil has no intention of entering a trade war with the United States, a government minister said today after US president Donald Trump imposed a 25pc levy on steel.
It comes as US manufacturers reliant on steel and aluminium imports are searching for ways to keep their profit margins in tact after Donald Trump’s move to slap new tariffs on those key metals.
EU considers closer ties to Gulf as Trump ramps up tariffs The trade war between America and Europe is “going to get nasty”, a European investment bank has warned.
