Trump Spurs European Race to Rearm

WSJ What’s News

The Wall Street Journal

Daily News, News

4.1 • 4.2K Ratings

🗓️ 6 March 2025

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

A.M. Edition for Mar. 6. EU leaders convene for emergency security talks, headlined by a German U-turn on fiscal prudence that could prompt a massive boost in defense spending. Plus, the Department of Veterans Affairs plans to cut as many as 70,000 workers. And French billionaire Bernard Arnault is one of the world’s richest men – with a family relationship with President Trump that spans decades. But can the LVMH boss spare his luxury-goods empire from looming U.S. tariffs? The WSJ’s Nick Kostov explains. Luke Vargas hosts. Check out our special series on how China’s trillion-dollar infrastructure plan is challenging the West. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Americans love using their credit cards, the most secure and hassle-free way to pay.
0:04.0	But DC politicians want to change that with the Durban Marshall Credit Card Bill.
0:08.0	This bill lets corporate megastores pick how your credit card is processed,
0:13.0	allowing them to use untested payment networks that jeopardize your data security and rewards.
0:18.0	Corporate megastores will make more money and you pay the price.
0:22.1	Tell Congress to guard your card because Americans lose when politicians choose. Learn more at
0:28.1	guard your card.com.
0:33.4	The VA plans to cut tens of thousands of workers.
0:43.4	Plus, Europe loosens its purse strings as it contemplates a future without America's security umbrella.
0:49.5	And he's one of the richest people in the world with a relationship to President Trump going back decades.
0:54.5	But can LVMH's boss shield his empire from U.S. tariffs? The art of Trump whispering, I mean, it's not easy.
0:57.5	I have no idea if Bernard will be successful or not.
1:00.4	What I can say is that the entire luxury industry,
1:03.0	whenever I speak to executives of rival firms,
1:05.5	are firmly behind his efforts and really hope that he succeeds.
1:08.8	It's Thursday, March 6th.
1:10.5	I'm Luke Vargas for the Wall Street
1:12.1	Journal, and here is the AM edition of What's News, the top headlines and business stories,
1:18.0	Moving Your World Today.
1:25.2	We begin in Washington, where the Trump administration is looking to cut roughly 70,000 workers from the Department of Veterans Affairs, part of a broad review of the agency.
1:35.7	In a video posted on X yesterday, the department secretary Doug Collins said the cuts won't affect health care or benefits for veterans and beneficiaries, and that there
1:45.6	will still be hiring for mission-critical roles.
	...

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