Jun 6, 2018

EU slaps tariffs on $3.4 billion in U.S. products

A cargo ship arrives at a German port in Hamburg. Photo: Elena Eliachevitch/Getty Images

The European Union announced Wednesday that it will impose tariffs on American goods starting in July in response to President Trump's decision not to exempt Europe from sweeping aluminum and steel tariffs, reports AP. The EU exported 5.5 million tons of steel to the U.S. in 2017.

The details: The EU tariffs will affect about $3.4 billion worth of U.S. products. The goods caught in the crossfire include bourbon whiskey, motorcycles, denim, cigarettes, cranberry juice, orange juice, some pants and shorts, some bedlinen, corn, tobacco, t-shirts, motor boats, some rice, some beans, peanut butter, and forms of aluminum and steel.

“It is a measured and proportionate response to the unilateral and illegal decision taken by the United States."
— European Commission Vice-President Maros Sefcovic to reporters

The European bloc has also taken its case against the U.S to the World Trade Organization.

Go deeper: The full list of American products caught in Trump's trade war

Go deeper

Scoop: Inside the Trump campaign's big hedge on Facebook

Illustration: Eniola Odetunde/Axios

The Trump campaign has invested most of its advertising budget to date on Facebook, testing thousands of versions of ads per day to maximize its spending.

But behind the scenes, a source familiar with the campaign tells Axios, the thinking has shifted: "As everyone can see, we still have strong spending on Facebook, but the percentage of our total media budget [on Facebook] is shrinking."

Trump's revenge tour has the House in its sights

Illustration: Aïda Amer/Axios. Photo: Saul Loeb/Getty Contributor

In the lead-up to the 2018 midterm elections — buoyed by Republican control of both chambers — President Trump viewed campaigning for the House as a lower-tier priority and instead poured his energy into rallying for the Senate.

But after the GOP reckoning in 2018, and experiencing firsthand how damaging a Democratic-led House has been to him, Trump is now personally invested in helping Republicans regain the majority in November, several people familiar with his thinking tell Axios.

Pelosi warns U.S. allies against working with China's Huawei

Nancy Pelosi, Feb. 16. Photo: Sven Hoppe/picture alliance via Getty Images

House Speaker Nancy Pelosi on Sunday cautioned U.S. allies against allowing Chinese telecommunications giant Huawei to develop their 5G networks, arguing at the Munich Security Conference that doing so is akin to “choosing autocracy over democracy," CNBC reports.

Why it matters: Pelosi's hawkish stance marks a rare area of agreement with the Trump administration, which believes Huawei is a national security threat because the Chinese government may be capable of accessing its equipment for espionage.

Go deeperArrow4 hours ago - World