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).
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Senate Majority Leader Chuck Schumer is conceding that Democrats face a tough pathway to delivering a $3.5 trillion package for family, health and environment programs to President Joe Biden’s desk.
Kathy Hochul will become the state’s first female governor once Cuomo's resignation is effective in two weeks.
Gov. Andrew Cuomo says he will resign over a barrage of sexual harassment allegations in a fall from grace a year after he was widely hailed nationally for his detailed daily briefings and leadership during the darkest days of COVID-19.
With a robust vote after weeks of fits and starts, the Senate has approved the $1 trillion bipartisan infrastructure plan.
Members of the U.S. military would be required to have the COVID-19 vaccine beginning Sept. 15, under a plan announced by the Pentagon on Monday and endorsed by President Joe Biden.
Canada is lifting its prohibition on Americans crossing the border to shop, vacation or visit, but the United States is keeping similar restrictions in place for Canadians.
Earth is getting so hot that temperatures in about a decade will probably blow past a level of warming that world leaders have sought to prevent.
The Biden administration has announced that federal student loan payments will remain suspended through January 2022, extending a pause that was scheduled to expire next month.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
