The Trump administration’s imposition of tariffs on neighbors and allies presents a growing risk for the broader U.S. economy, as the prospect of a tit-for-tat trade war mounts. The U.S. has imposed steel and aluminum tariffs on the European Union, Canada and Mexico, and they have pledged to return fire on a range of U.S. goods from motorcycles and bourbon to berries, grapes and blue jeans. The Trump administration has also taken steps toward imposing tariffs on industrial supplies and other goods imported from China and is considering an additional wave of tariffs on auto imports.
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