OILPRICE | As if the economic fallout from the novel coronavirus pandemic weren’t enough, a series of trade battles have redoubled the United States’ economic woes in recent weeks. Like everywhere else around the globe, the U.S. has seen a severe downturn in nearly every economic sector and soaring rates of unemployment as the country shut down in the face of COVID-19. But just when the nation has been reopening and it looked like the country’s economy was slowly beginning its long road to recovery, new politically driven troubles have arisen. This week the New York Post reported that “The European Union wants to slap tariffs on American industries that are politically near and dear to President Trump and congressional Republicans this election year,” citing an earlier report by Bloomberg News released on Tuesday. “The EU has asked the World Trade Organization for permission to impose tariffs on $11.2 billion worth of US goods that would hammer farmers, coal producers and fisheries,” the Post report continued.
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