ieExplains: What happened the last time Donald Trump put tariffs on Europe?

Markets are reeling, global economic risks are increasing, growth forecasts are shrinking and US president Donald Trump is not for turning, apparently, on the trade war he launched last week against pretty much every country in the world.

While it might be bad now, unfortunately, things can only get worse as countries look to retaliate against the US and impose their own tariffs on US imports. The EU is expected to outline its own retaliatory tariffs soon.

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