Squawk Box anchors discuss how trade tensions have helped wipe $2 trillion from global stocks during May, as Beijing blames Washington for the collapse in negotiations, saying the White House’s hardline stance will not resolve the dispute. President Trump kicks off his 3-day state visit to Britain with an opening salvo on Brexit, backing a no-deal departure and endorsing Boris Johnson as Prime Minister. He also talks of a potential U.K. – U.S. trade deal. And in Germany, Angela Merkel's grand coalition suffers a blow with the resignation of SPD leader Andrea Nahles, following her party’s European election drubbing last week.

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