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).
Prices for U.S. consumers jumped 6.2% in October compared with a year earlier as surging costs for food, gas and housing left Americans grappling with the highest inflation rate since 1990.
Mississippi's 2018 law banning almost all abortions after 15 weeks of pregnancy, could be the one to show whether a strong conservative majority on the Supreme Court will uphold or overturn Roe v. Wade
The U.S. has fully reopened its borders with Mexico and Canada and lifted restrictions on travel that covered most of Europe.
America’s employers stepped up their hiring in October, adding a solid 531,000 jobs, the most since July and a sign that the recovery from the pandemic recession may be overcoming a virus-induced slowdown.
The number of Americans applying for unemployment benefits fell to a fresh pandemic low last week, another sign the job market is healing after last year’s coronavirus recession.
The Federal Reserve made official on Wednesday its plan to wind down the aggressive monthly bond-buying program that has defined the central bank's pandemic response.
Fed watchers are expecting Jerome Powell to announce a timeline for tapering bond purchases on Wednesday afternoon following the meeting of the Federal Open Market Committee.
World leaders are promising to protect the world’s forests, cut methane emissions and help South Africa wean itself off coal at the U.N. climate summit.
A majority of the Supreme Court are signaling that they would allow abortion providers to pursue a court challenge to a Texas law that has virtually ended abortion in the nation’s second-largest state after six weeks of pregnancy.
President Joe Biden is taking a markedly more humble tone for a U.S. leader on climate change.
