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).
Michael Kirk, director of the new Frontline documentary 'Pelosi's Power,' joins Cheddar Politics to discuss House Speaker Nancy Pelosi's long career as a Democratic leader in Congress.
President Joe Biden is ordering the release of 1 million barrels of oil per day from the nation’s strategic petroleum reserve for six months in a bid to control energy prices.
Catching you up on what you need to know on Mar 31, 2022, with updates on Biden's push for more COVID funding, a wave of storms hammering the South, Etsy sellers going on strike, and more.
An inflation gauge closely monitored by the Federal Reserve jumped 6.4% in February compared with a year ago, with sharply higher prices for food, gasoline and other necessities squeezing Americans’ finances.
Meta, Facebook’s parent company, hired a Republican consulting firm called Targeted Victory to “orchestrate a nationwide campaign” against TikTok, The Washington Post reported on Wednesday.
Job openings hovered at a near-record level in February, little changed from the previous month, continuing a trend that Federal Reserve officials see as a driver of inflation.
Brad Polumbo of the Foundation for Economic Education, a conservative-libertarian think tank, joined Cheddar News to break down the big announcements from President Biden's budget plan, including an increase in defense spending due to the conflict in Ukraine, and a planned 20% income tax on billionaires.
President Joe Biden has gotten a second booster dose of the Pfizer COVID vaccine, and he used the occasion Wednesday to call on Congress to pass billions of dollars in additional funding to fight the pandemic.
