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Europe prepares countermeasures to Trump’s tariffs, calling them a ‘major blow to the world economy’

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The EU is a major US trading partner.

President Trump announced 20% tariffs on imports from the EU on Wednesday .

EU is the largest single market for US goods exports, ahead of U.S. neighbors Canada and Mexico .

The European Union would prefer to work with the US to reduce trade barriers, EU official says.

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