"This is getting so ridiculous that it's hard to believe it's actually happening between the two largest economies that make up almost $50 trillion of global GDP, almost half of the world " let alone a tariff war against the whole world," Peter Boockvar, chief investment officer of Bleakley Financial Group, wrote in a research note."

When you have a ridiculous Pres, expect ridiculous results.

EU imposes extra 25% tariffs on US imports | BBC News