SQUAWK BOX, THURSDAY 3RD OCTOBER, 2019

A new front opens…Washington escalates the trade war, this time hitting the EU with tariffs on up to $7.5bn worth of goods. The U.S. plans to impose a 25% levy on a range of European products, including French wine, Italian cheese and Scottish whisky. The moves comes after the WTO ruled against the EU in a 15-year-old dispute judging the bloc’s subsidies to plane makers Airbus and Boeing to be illegal. President Trump hails the win but trade tensions and weaker-than-expected U.S. jobs numbers trigger a global stocks sell-off, causing the weakest day of trade on Wall Street in six weeks. In the U.K., Prime Minister Boris Johnson sets out his final proposal for a Brexit deal, including Irish backstop concessions but the reaction from the EU remains mixed. We are live in Brussels for the latest reactions.