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).
European regulators say they may approve a coronavirus vaccine developed by drugmakers Pfizer and BioNTech within four weeks.
Americans returning home from Thanksgiving break are facing strict new coronavirus measures around the country as health officials brace for a disastrous worsening of the out-of-control surge because of holiday gatherings over the long weekend.
Federal Communications Commission Chairman Ajit Pai, a Republican, says he is leaving the telecommunications regulator on Inauguration Day.
President-elect Joe Biden will have an all-female communications team at his White House, a first for the presidency.
Congress is returning to Washington for one last attempt at deal-making this year.
President-elect Joe Biden has announced several of his most senior economic advisers.
Moderna Inc. says it will ask U.S. and European regulators to allow emergency use of its COVID-19 vaccine as new study results confirm the shots offer strong protection
Here are the headlines you Need2Know for Tuesday, November 25, 2020:
A federal appeals court in Philadelphia has rejected President Donald Trump’s latest effort to challenge the election results in a case that could reach the U.S. Supreme Court if Trump appeals.
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.
