An escalatory spiral that leads towards Eurasia's 10% 'trade war' scenario, however, would prompt Brussels to deploy escalatory measures, such as "export controls/duties, public procurement curbs, and/or penalties on U.S. services exports" by using the ACI "trade bazooka as a last resort," they concluded.

President Trump’s threat to impose 30% tariffs on the European Union disrupted negotiations. From cars to wine, these are the industries in the firing line.

Re “A look at the 14 countries that received Trump’s tariff letters” (July 8): President Trump’s helter-skelter application of tariffs is bad for the U.S. and bad for world

European Union and US negotiators are heading into another week of intensive talks, as they seek to clinch a trade deal by Aug. 1, when US President Donald Trump has threatened to hit most EU exports with 30% tariffs.

U.S. Secretary of Commerce Howard Lutnick testifies before a House Appropriations Committee hearing on U.S. President Donald Trump's budget request for the Department of Commerce, on Capitol Hill in Washington,

U.S. officials told the EU’s trade chief this past week that they expect President Trump to demand further concessions from the bloc to get an agreement, including a baseline tariff on most European goods that could be in the range of 15% or higher,