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).
Earlier today, Minnesota Republican Representative, Tom Emmer, introduced a bill that would prevent the Federal Reserve from issuing a central bank digital currency directly to American consumers. According to the Congressman from Minnesota, requiring Americans to open a fed account to access a digital currency, would "put the Fed on insidious path akin to China's digital authoritarianism." Rep. Tom Emmer joined Cheddar's None of The Above to discuss more.
Sixteen of the country's most prestigious universities have been hit with a lawsuit claiming those schools illegally conspired to eliminate competitive financial aid offers for students. Just some of the schools mentioned include Yale, Brown, Columbia, UPenn, and Cornell. Author of "Who Gets In and Why" and Professor of practice at Arizona State University, Jeff Selingo, joined Cheddar to discuss more.
Navient, a major student loan collecting company, agreed to cancel $1.7 billion in debt owed by more than 66,000 borrowers across the U.S. and pay over $140 million in other penalties to settle allegations of abusive lending practices.
The recently expired child tax credit helped a wide swathe of families throughout the U.S. Megan Pratz looks into the impact the payments had, and how the end of the program will have a drastic effect on families that could still use the help with child care.
The Supreme Court has stopped the Biden administration from enforcing a requirement that employees at large businesses be vaccinated against COVID-19 or undergo weekly testing and wear a mask on the job.
Buckingham Palace says that Prince Andrew’s honorary military titles and royal patronages have been returned to Queen Elizabeth II with her “approval and agreement.”
Prime Minister Boris Johnson has apologized for attending a garden party during Britain’s first coronavirus lockdown, but brushed aside opposition demands that he resign for breaching the rules his own government had imposed on the nation.
North Korea says leader Kim Jong Un oversaw a successful flight test of a hypersonic missile he claimed would remarkably increase the country’s “war deterrent.”
