trade war

Trade officials from U.S. President Donald Trump’s administration have leveled accusations at the European Union over Brussels’ attempts to give European meat and cheese producers a de facto monopoly in the South American market as part of a sweeping trade agreement with Mercosur countries, Logos Press reported.

A trade war with the U.S. would be a disaster for Europe, which is already suffering from stagnation, but in the long run could have an extremely negative impact on the U.S. economy as well, according to Logos Press.

United States President Donald Trump and European Commission chief Ursula von der Leyen found compromises on reciprocal duties at talks in Scotland on July 27, Logos Press reported.

The EU wants to impose an import duty on all goods from China’s Temu, Aliexpress and Shein,” Logos Press reported, citing the Financial Times.