The Latest: Eu Targets Products From Gop-led States In Response To Trump Tariffs

The European Union announced retaliatory trade actions Wednesday, focusing new duties on U.S. industrial and farm products from Republican-led states, within hours of the Trump administration's 25 tariffs on all steel and aluminum imports . Trump promises the taxes will help create U.S. factory jobs , but his seesawing threats are jolting the stock market and raising fears of an economic slowdown.

The Education Department announced plans to lay off more than 1,300 employees, a prelude to Trump's plan to entirely dismantle the agency . And the Trump administration is halting a 1 billion program that helps keep tens of thousands of units livable for low-income Americans, according to a document obtained by The Associated Press.

Here's the latest:

US inflation cooled last month, though trade war threatens to lift prices

U.S. inflation slowed last month for the first time since September and a measure of underlying inflation fell to a four-year low, even as additional tariffs on steel and aluminum that kicked in Wednesday threaten to send prices higher.