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).
Cheddar looks ahead to what may be in store for President-elect Joe Biden once he takes office on January 20.
A coronavirus action plan from President-elect Joe Biden centers on a mass vaccination campaign and closer coordination among all levels of government.
President Donald Trump has been impeached by the U.S. House over the violent siege of the Capitol.
U.S. Shadow Representative of the District of Columbia Oye Owolewa spoke to Cheddar about his belief that the recent attack on the Capitol building underlined the need for DC's statehood.
Cheddar's Megan Pratz reflects on the chaotic day of the counting of the electoral votes when the U.S. Capitol building became overrun by rioters.
The U.S. government’s deficit in the first three months of the budget year was a record-breaking $572.9 billion.
Airbnb says it will be blocking and canceling reservations in the Washington, D.C. area during the week of the presidential inauguration.
Mayor Bill de Blasio says New York City will terminate business contracts with President Donald Trump after last week’s insurrection at the U.S. Capitol.
A look at how President-elect Joe Biden's budgetary concerns will fit in with people's changing perceptions of the federal deficit and deficit spending.
Impeachment ahead, the House will first try Tuesday to push the vice president and Cabinet to act even more quickly to remove President Donald Trump from office.
