EU threatens $300 billion tariffs against U.S. after fresh trade salvo from Trump: report

In what could mark a new escalation in trade-war tensions, the European Union threatened fresh tariffs on nearly $300 billion in U.S. products if President Donald Trump follows through with new levies on European car makers.

In a letter sent Friday to the U.S. Department of Commerce, which was seen by the Financial Times, the European Commission warned that Trump could trigger a devastating global trade war with his auto-tariff threats, which they believe he could carry out soon.

While the letter didn’t lay out any specific measures, the EU and other major economies were “likely” to retaliate against a broad swath of U.S.

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