American trading partners responded swiftly to President Trump’s latest round of levies with countermeasures, creating more uncertainty for C.E.O.s.

Facing questions from C.E.O.s, President Trump doubled down on tariffs. They “may go up higher,” he said.Doug Mills/The New York TimesTrade war

A new round of tariffs on aluminum and steel went into effect overnight. This time, no U.S. trading partner was spared.

The new tariffs amped up the risk of a global trade war. The European Union on Wednesday vowed to roll out $28 billion in retaliatory levies next month on American products, including bourbon, jeans and agricultural products.

“Jobs are at stake, prices up, nobody needs that,” said Ursula von der Leyen, president of the European Commission. Jonathan Reynolds, Britain’s trade secretary, said his country would “keep all options on the table.”

European officials hope they can still strike a deal.

Keep reading this article on Andrew Ross Sorkin – Author New York Times.

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