fuelling fears: World stocks hovered near four-week lows after Washington moved to impose new tariffs on European goods, fuelling fears about global growth and dousing risk appetite, according to Nine News Australia. The latest US-European trade tensions added to fears over the standoff between Washington and Beijing, which has cast a shadow over global growth prospects. To improve your experience update it 'safe port in the storm' amid global recession worries, says Scott Morrison By 9News Staff7 23am Oct 4, Minister Scott Morrison has labelled Australia's country's economy the safe port in the storm amid global trade tensions due to its policy predictability and openness to international investment. Washington will enact 10 per cent tariffs on Airbus planes and 25 per cent duties on French wine, Scotch and Irish whiskies and cheese from across the continent as punishment for illegal EU subsidies to Airbus. AAP Earlier in the week, disappointing data on US manufacturing and the jobs market suggested the trade war with China had damaged the world's largest economy. Prime Minister Scott Morrison In a speech at the Lowy Institute foreign affairs think tank last night in Sydney.
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