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Trump trade war gathers force

Big risks in deliberately destabilizing outlook for U.S. groups investing abroad

| North America
No end is in sight for U.S. President Donald Trump's trade activism.   © Reuters

The U.S. allowed the temporary exemption on steel and aluminum tariffs for the European Union, Canada and Mexico to expire on June 1, triggering a cycle of U.S. tariffs and retaliation by the EU, Canada and other countries.

This should be understood as the end of the beginning of Trump trade activism -- to borrow Churchill's phrase -- but nowhere near the end. Look at the calendar ahead.

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