German finance minister Lars Klingbeil has warned that the EU stands ready to impose retaliatory measures against US goods if the two parties fail to reach a “fair” deal to resolve their trade dispute. Klingbeil told German MPs on Tuesday:

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The EU is working to avoid a tariff rate as high as 50% ahead of a 1 August deadline. It now appears that a 10% duty is on the table.View on euronews