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The European Union promised retaliation against American exports if Trump follows through with his trade war. In the United States, the S&P 500 dropped as much as 1.1 percent before paring its decline. (File Photo)

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World leaders push back against Trump's trade war threat

President Donald Trump on Friday insisted "trade wars are good, and easy to win," a bold claim that prompted threats of retaliation against U.S. exports like blue jeans and motorcycles.