Nov 14, 2018

EU trade chief: "We have not received any assurances" on U.S. auto tariffs

EU Trade Commissioner Cecilia Malmström. Photo: Pier Marco Tacca/Getty Images

EU Trade Commissioner Cecilia Malmström told reporters Wednesday that the EU has "not received any assurances" that the Trump administration won't implement auto tariffs, but said she is under the assumption that there will not be any new tariffs from either side — a commitment President Trump and European Commission President Jean-Claude Juncker agreed to in July.

The big picture: Malmström, who met with U.S. Trade Representative Robert Lighthizer in Washington, D.C., today, said she believes auto tariffs would be harmful to both the U.S. and European economies, but added that the EU has a draft list of retaliatory tariffs that it's prepared to process if necessary. As Axios' Jonathan Swan reported, Trump views the threat of auto tariffs as his best leverage over negotiating partners. He has privately told aides that the threat of auto tariffs helped him get a better trade deal with Canada, and that the same could apply to the EU.

Go deeper

Pandemic and protests can't stop the stock market

Traders work on the floor of the NYSE. Photo: Spencer Platt/Getty Images.

United States equities were on pace to open higher Monday following big gains in Asia and Europe and a risk-on bid in currency markets.

Why it matters: Stock markets could continue to rise despite an unprecedented global pandemic, violent protests over police violence in the U.S. not seen since the 1960s, and spiking tensions between the world's two largest economies.

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The sports world speaks up about death of George Floyd

Celtics guard Jaylen Brown. Screenshot: Jaylen Brown/Instagram

There was a time when a months-long sports absence would have silenced athletes, leaving them without a platform to reach fans or make their voices heard.

Why it matters: But now that athletes boast massive social media followings and no longer need live game broadcasts or media outlets to reach millions, they're speaking out en masse amid protests over the death of George Floyd and other police-related killings of black people — delivering messages of frustration and unity, despite their leagues not currently operating.

The technology of witnessing brutality

Charging Alabama state troopers pass by fallen demonstrators in Selma on March 7, 1965. Photo: Bettmann/Getty Images

The ways Americans capture and share records of racist violence and police misconduct keep changing, but the pain of the underlying injustices they chronicle remains a stubborn constant.

Driving the news: After George Floyd's death at the hands of Minneapolis police sparked wide protests, Minnesota Gov. Tim Walz said, “Thank God a young person had a camera to video it."