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).
Customs authorities in Ohio say they intercepted a shipment of cereal earlier this month with a special frosting — cocaine.
Democrats who were involved in the questioning during the House Financial Services Committee hearing on the GameStop stock controversy spoke to Cheddar about what they felt they learned.
Southern U.S. cities slammed by winter storms that left millions without power for days have traded one crisis for another.
President Joe Biden toured a state-of-the-art coronavirus vaccine plant Friday as extreme winter weather across broad swaths of the U.S. handed his vaccination campaign its first major setback.
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.
New York State Assembly Majority Leader Crystal Peoples-Stokes believes 2021 is the year that the Empire State will get marijuana legalization done.
Cheddar has pulled together a rough timeline of the GameStop tale, from its inauspicious beginnings to becoming one of the biggest stories out of Wall Street since the crash of the housing market.
The UK Supreme Court has ruled that Uber drivers should be classed as “workers” and not self-employed.
Power was restored to more homes and businesses in Texas after a deadly blast of winter this week overwhelmed the electrical grid and left millions shivering in the cold.
Cheddar looks at the players in the GameStop stock saga taking part in the House Committee on Financial Services hearing.
