Trump's Demands Bring Relationships With Allies to 'Lowest Point'
*By Alisha Haridasani*
President Donald Trump on Wednesday demanded NATO allies double their contributions to defense spending from 2 to 4 percent, further straining relationships with EU allies.
“The tone that Trump has brought, on the back of trade frictions, has really brought the transatlantic alliance to the lowest point,” said Joshua Meltzer, senior fellow of global economy and development at the liberal-leaning Brookings Institute.
The summit comes just over a month after the Trump administration levied tariffs on imported steel and aluminum, affecting even allies like the EU, Canada, and Mexico and making trade the focus of a summit that usually centers on military readiness on the European continent.
Industry leaders and congressional lawmakers have been sounding the alarm on tariffs, claiming that the barriers will only end up hurting the very industries that Trump is trying to protect.
“The steel and aluminium tariffs are a double-edged sword,” said Rep. French Hill (R-Ark.). “I think it should be used only very discreetly on individual products that have a true national security aspect.”
“Tariffs, to some degree, hurt American consumers, hurt American manufacturers,” he said.
While the summit unfolded in Brussels, back home the administration floated the idea of slapping more tariffs on $200 billion of Chinese goods to punish them for retaliating to an original round of American import taxes.
The news sent shock waves through markets, with major U.S. indexes closing down after a few days in the green.
For the full segment, [click here.](https://cheddar.com/videos/trade-war-fears-escalate)
iFit CEO Kevin Duffy shares how the company is bringing artificial intelligence-powered workouts to consumers, plus other fitness trends to be on the lookout for in 2024.
Macy’s is rejecting a $5.8 billion takeover offer from investment firms Arkhouse Management and Brigade Capital Management, saying they didn’t provide a viable financing plan. The firms offered $21 per share for the stock they don’t already own.
Sports Illustrated's employee union said in a statement that the layoffs would be a significant number and possibly all, of the NewsGuild workers represented.
CEO and founder of Pinstripes Dale Schwartz shares his thoughts on taking the company public, why they're set for growth this year, and why he's not concerned about inflation weighing on the restaurant sector.
With hype continuing to build for A.I. projects, expert insight on what companies seem poised to benefit, plus how it will impact the lives of everyday consumers.
Ford says it’s reducing production of the F-150 Lightning electric pickup vehicle as it adjusts to weaker-than-expected electric vehicle sales growth. The automaker said about 1,400 workers will be impacted by the move.
