If President Trump’s proposed tariffs on steel and aluminium go into effect, Europe could drag blue jeans and breakfast beverages into the ring, according to Joseph Sternberg, the Wall Street Journal’s Editorial Page Editor for Europe.
“The EU is going to focus on trying to find ways that they can retaliate without damaging the EU economy itself,” explained Sternberg.
Early on Wednesday, the European Union released a list of American goods that it could tax, including Levi’s jeans, orange juice, and motorboats.
“That list is worth about $3.5 billion each year,” Sternberg said. “The point here is to try to send this message that the U.S. isn’t the only trading country in town here.”
More broadly, the tariffs could also decrease foreign investment into the U.S., said Sternberg.
It could start “affecting the willingness of European companies to invest in the U.S. and those companies are creating a lot of American jobs too.”
For the full interview, [click here](https://cheddar.com/videos/starting-a-tariff-war).
Catching you up on what you need to know on April 27, 2022, with Tesla stocks absorbing an initial hit following Elon Musk's purchase of Twitter, Russia pausing its natural gas supplies to Poland and Bulgaria, NASA's SpaceX Crew-4 mission taking off, and more.
Russia and the United States have exchanged prisoners. Russia released a Marine veteran jailed in Moscow while the U.S. released a convicted Russian drug trafficker serving a prison sentence in Connecticut.
President Biden wants to repeal a Trump-era policy called Title 42, which makes it harder for migrants to seek asylum. A federal judge has temporarily blocked the administration from letting this happen. Cheddar News is joined by Maria Pabon, Dean Brian Bromberger Distinguished Professor of Law at Loyola University, to discuss.
Politico's Defense Reporter Paul McLeary joined Cheddar News' Closing Bell to discuss the significance of cabinet members Secretary of State Antony Blinken and Defense Secretary Lloyd Austin's recent trip to Ukraine, and to break down how the U.S. is furthering its support for the besieged nation as Russian aggression intensifies.
Vice President Kamala Harris tested positive for COVID-19 on Tuesday, the White House announced. That's underscoring the persistence of the highly contagious virus even as the U.S. eases restrictions in a bid to revert to pre-pandemic normalcy.
Catching you up on what you need to know on April 26, 2022, with Elon Musk’s purchase of Twitter for $44 billion, Russia warning of a possible threat of World War III, the FDA approving a COVID treatment for children under 12, and more.
The Supreme Court is taking on the case of Joseph Kennedy, who was fired from his job as Bremerton High School assistant coach in Washington for his post-match prayers that were joined by students. Rachel Laser, President and CEO of Americans United for Separation of Church and State, joins Cheddar News to explain the possible implications of a ruling.
Student loans are affecting about 46 million Americans across the country, adding up to nearly $1.7 trillion of debt total. President Biden has announced a handful of actions designed to bring millions of borrowers a step closer to debt forgiveness. Katie Lobosco, writer for CNN Politics, joins Cheddar News to discuss.
