A US trade war on two fronts is the last thing global investors want to be thinking about right now. Following a green light from the World Trade Organization, the United States said it plans to impose tariffs on $7.5 billion worth of European exports starting October 18. On the list: olives, wine and cheese. Should the tariffs be enacted, as seems likely, Europe will retaliate. The tariffs are the latest twist in a long-running dispute that centers on the support European and US governments provide to the world’s biggest airplane manufacturers, Airbus (EADSF) and Boeing (BA). This isn’t a new fight. But fresh levies will certainly be viewed in the context of President Donald Trump’s larger trade battles, which have thrown grit in the wheels of the global economy. Consider this more dirt. In some corners, the market reaction has been muted. Shares of Airbus, whose planes will be subject to a 10% tariff, are actually up 3%. However: That’s mostly because the Trump administration has shown some restraint. For now, tariffs will be at 10% and 25% levels. This is less severe than tariffs of up to 100%, as had been previously threatened. For investors worried about the… Read full this story
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