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).
Stocks gave up an early gain on Wall Street and were mixed in late morning trading Tuesday while the price of oil continued its wild ride.
Stocks are rising in early trading on Wall Street as nations and some U.S. states move toward reopening their economies from lockdowns made to restrict the spread of the coronavirus.
Secretary of Housing and Urban Development, Dr. Ben Carson said that the rest of the country will learn a lot from Georgia's experiment.
Some Georgia restaurants began reopening dine-in areas in line with an executive order from Gov. Brian Kemp that went into effect Monday.
The senator told Cheddar Monday that banking through the U.S. Postal Service will be able to serve more people during the pandemic, specifically low-income families, who are more likely to be unbanked.
Stocks are closing higher on Wall Street and around the world as governments prepare to gradually lift restrictions they imposed on businesses to slow the sweep of the coronavirus pandemic.
The Trump administration is reviewing new federal plans designed to guide restaurants, schools and others as states look to gradually lift their coronavirus restrictions. The draft guidance from the Centers for Disease Control and Prevention has been sent to Washington and still could change.
New York has canceled its Democratic presidential primary originally scheduled for June 23 amid the coronavirus epidemic in an unprecedented move. The Democratic members of the State’s Board of Elections voted Monday to nix the primary.
Stocks are rising around the world as governments prepare to gradually lift restrictions they imposed on businesses to slow the sweep of the coronavirus pandemic.
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.
