Allies retaliate against US as global trade war escalates

Yahoo Finance’s Melody Hahm, Rick Newman, Jared Blikre and Julia La Roche discuss today’s big stories.

Some of today’s topics include:

• Futures lower as Trump gets tough on EU over trade

• Trump believes auto tariffs will help him with EU trade deal

• Canada hits US with $12.5B of retaliatory tariffs

• Trump may drop World Trade Organization rules: Axios

• Mexico chooses populist Lopez Obrador as next president

• Trump delaying new NAFTA deal until after midterms

• Nordstrom downgraded to ‘market perform’: Cowen

• Novartis signs deal to sell EpiPen competitor in US

• Netflix buying billboards in LA: Reuters

• Dell to publicly trade again after tracking stock buyout

• Facebook admits to sharing data after supposed 2015 end date

• Tesla reaches Model 3 production goal

• LeBron James signs $154M deal with Lakers