An existential crisis in the making.On Sunday (May 25), President Donald Trump granted the European Union a brief lifeline in his quest for reciprocity on tariffs, extending the proposed 50% burden imposition to early July. “Europe is ready to advance talks swiftly and decisively,” declared EU Commission President Ursula von der Leyen shortly after the hiatus was announced. However, her situation, and that of the 27 participating member states, is far more precarious than one might initially assume.Mighty Markets, Many TariffsWithout doubt, the EU bloc is a big and valuable trading partner to the United States. Indeed, America purchased more...