EU and US face clash as tariff date looms

There is little prospect for a quick fix in the trade stand-off after the Trump administration opened a new front last Wednesday by also threatening tariffs on car imports. Photo: Getty Images

Leigh Thomas

With Italy in political turmoil, oil prices on the rise and North Korea tensions returning, the last thing the global economy needs is a big lurch towards a trade war.

But that is exactly what the Trump administration in Washington faces if it does not extend temporary exemptions on steel and aluminium imports from Europe that expire on Thursday.