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)
Treasury Secretary Janet Yellen has announced that 100,000 businesses have signed up for a new database that collects ownership information intended to help unmask shell company owners. Yellen says the database will send the message that “the United States is not a haven for dirty money.”
A new version of the federal student aid application known as the FAFSA is available for the 2024-2025 school year, but only on a limited basis as the U.S. Department of Education works on a redesign meant to make it easier to apply.
A steep budget deficit caused by plummeting tax revenues and escalating school voucher costs will be in focus Monday as Democratic Gov. Katie Hobbs and the Republican-controlled Arizona Legislature return for a new session at the state Capitol.
The first U.S. lunar lander in more than 50 years is on its way to the moon. The private lander from Astrobotic Technology blasted off Monday from Cape Canaveral, Florida, catching a ride on United Launch Alliance's brand new rocket Vulcan.
Global prices for food commodities like grain and vegetable oil fell last year from record highs in 2022, when Russia’s war in Ukraine, drought and other factors helped worsen hunger worldwide, the U.N. Food and Agriculture Organization said Friday.
Wall Street is drifting higher after reports showed the job market remains solid, but key parts of the economy still don’t look like they’re overheating.
The Biden administration is docking more than $2 million in payments to student loan servicers that failed to send billing statements on time after the end of a pandemic payment freeze.
The nation’s employers added a robust 216,000 jobs last month, the latest sign that the American job market remains resilient even in the face of sharply higher interest rates.
A U.S. labor agency has accused SpaceX of unlawfully firing employees who penned an open letter critical of CEO Elon Musk and creating an impression that worker activities were under surveillance by the rocket ship company.
