Donald Trump, in an October interview with Bloomberg News Editor-in-Chief John Micklethwait, was asked about the risk of undermining America’s geopolitical position vis-à-vis China if Washington ramped up trade protections against Europe.

The European Union plans to retaliate against the United States for new steel and aluminum tariffs, adding another element to rising global trade tensions. "Unjustified tariffs on the EU will not go unanswered—they will trigger firm and proportionate countermeasures,

Donald Trump's trade advisers were finalizing plans on Wednesday for the reciprocal tariffs the U.S. president has vowed to impose on every country that charges duties on U.S. imports, ratcheting up fears of a widening global trade war.

Also in today’s newsletter, ‘If there’s no immigrant labour, there’s no milk, no cheese, no butter, no ice cream’