Trump’s reciprocal tariffs on US competitors & allies trigger global trade war threat

Trading partners are expected to respond with countermeasures of their own that could lead to dramatically higher prices for everything from bicycles to wine. The sweeping duties, which drew bewildered condemnation from many long-standing U.S. allies who found themselves tagged with unexpectedly high tariff rates, promise to erect new barriers around the world's largest consumer economy, reversing decades of trade liberalization that have shaped the global order. Washington : President Donald Trump on Wednesday unveiled a 10% minimum tariff on most goods imported to the United States, with much higher duties on products from dozens of countries, kicking into high…