World On Brink Of Trade War As U.S Slaps Tariffs On Allies

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The world’s largest economies stood on the brink of all-out trade war as the EU, Canada and Mexico drew up retaliatory measures to Washington’s stinging steel and aluminium tariffs that came into effect on Friday.

Speaking to reporters, Macron described the US move as “a mistake in many ways because it responds to existing international imbalances in the worst way — by breaking up and creating economic nationalism.”And nationalism is war. That’s exactly what happened in the 30s,” Macron said.

In Berlin, Chancellor Merkel said the measure “risks touching off spirals of escalation that in the end hurt everyone”.

Read more at i24NEWS.

{Matzav.com}

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