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Trump's trade war is 'wake-up call' for Europe

  • The US has imposed tariffs on various countries, prompting retaliation and concerns about global growth.
  • The European Commission and Germany have announced increased spending on defense and infrastructure, indicating a shift in priorities.
  • European Central Bank President Christine Lagarde stated that trade tensions could have severe consequences for growth around the world, particularly in the United States.
  • Lagarde noted that the trade tensions might boost European unity, calling it a big wake-up call for Europe.
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Tax Foundation broke the news in on Thursday, March 13, 2025.
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