The Trump administration imposed tariffs on a record of $7.5-billion worth of European Union goods on Friday. The recent development combined with the ongoing trade war between the US and China could risk destabilizing the global economy further.
The US imposed a record 25 percent tariff on wine and scotch imported from France, Spain, and Germany. Others that were slapped with tariffs were the Airbus-the civilian aircraft from Britain, France, Germany, and Spain.US imposed tariffs upon European goods after talks between European officials and US trade representatives failed to win a last-minute relief.
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