The small, open economies in the eastern part of the European Union will suffer disproportionately if the global trade war currently brewing extends to Europe, analysts have warned.
The first shots were fired in the long-anticipated trade war on March 7, when US President Donald Trump announced 25% tariffs on imports of steel and aluminium from China. Beijing responded by saying it would impose duties on $3bn worth of US products, announcing tariffs of up to 25% on imports of food including frozen pork, wine and some fruits on April 1.
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