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European shares dropped this week as a broad sell-off took hold, fueled by mounting concerns over the fallout of "Trumpcession", a term coined by economists to describe the turbulence triggered by "erratic" trade and economic policies of US President Donald Trump. The escalating strain in transatlantic trade relations has sparked fears that the European Union (EU) may not escape unscathed if "Trumpcession" comes to pass. Spiraling escalation Earlier this week, the EU said it would retaliate against Trump's 25-percent tariffs on steel and aluminum with countermeasures on 26 billion euros ($28 billion) worth of US imports, including boats, bourbon and motorbikes. "As the United States is applying tariffs worth $28 billion, we are responding with countermeasures worth 26 billion euros," European Commission President Ursula von der Leyen said in a statement, noting that the US tariffs affect approximately 5 percent of total EU goods exports to the United States. Trump quickly hit back, th
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