Donald Trump escalates trade war with sweeping global tariffs
(Alliance News) - US President Donald Trump intensified a global trade war Wednesday as he slapped sweeping tariffs on imports from allies and foes alike, sending markets into a tailspin and upending decades-long free trade norms.
The EU and China vowed retaliation against the levies, with Australia's leader saying the new tariffs were "not the act of a friend" and would hurt the close allies' relationship.