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Trump tariffs spark EU retaliation and market rout

Source: ft.com

Trump slaps 25% tariffs on EU imports, targeting cars and steel from next week.
EU vows immediate countermeasures, including levies on US goods worth €26bn.
Global markets plunge, with $2.5tn wiped off stocks in a day.

Donald Trump has triggered a transatlantic trade war by announcing sweeping tariffs on European imports, escalating tensions with the EU. This move risks derailing global trade and hammering economies on both sides of the Atlantic amid already fragile growth.