**Breaking News: Trump Faces Unprecedented Backlash as EU and Canada Prepare Retaliation Against July Tariffs**
In a dramatic escalation of trade tensions, President Donald Trump is reeling as the European Union and Canada threaten swift and severe retaliation against his proposed July tariffs. Just hours ago, EU leaders announced they are finalizing a robust package of countermeasures targeting vital US industries, including aviation, technology, and agriculture. This comes in response to Trump’s alarming plan to impose tariffs as high as 50% on European goods, setting the stage for a potential trade war that could shake global markets to their core.
The EU has reported staggering losses of over €60 billion, a figure that highlights the catastrophic impact of Trump’s trade policies. French President Emmanuel Macron has emphasized that the EU will not remain passive, warning that retaliatory tariffs could hit US exports worth approximately $100 billion annually if negotiations fail. Agricultural exports, particularly corn and soybeans, are under direct threat, with the EU poised to reinstate a 25% tariff on these critical products.
As stock markets tremble and businesses brace for impact, Trump’s aggressive tariff strategy is facing fierce opposition from allies who are now uniting against his economic bullying. Germany and Italy, while advocating for a measured response, are preparing for flexible retaliatory options, signaling a shift from passive to proactive stances among European nations.
Meanwhile, Canada, emboldened by its alliance with the EU, is also considering retaliatory measures, potentially imposing tariffs of its own if the US continues its unilateral approach. Analysts warn that if these retaliatory actions are enacted, the US economy could shrink by up to 0.7%, costing billions and pushing American consumers into a financial crisis marked by soaring prices.
As the clock ticks down to July, the stakes have never been higher. Will Trump’s high-risk tariff strategy backfire, pushing his closest allies to form a united front against him? With the global economy hanging in the balance, the world watches closely as this trade saga unfolds. Stay tuned for updates as this breaking news story develops.