Politicians, the media, and the markets have all responded negatively to President Trump’s proposed tariffs on steel and aluminium.
But Congresswoman Marcy Kaptur (D-OH) has a different perspective. The trade war concerns won’t materialize “if you have a good agreement,” she told Cheddar. “We need trade parity, we need reciprocity in trade.”
She pointed out that China churns out 2.3 billion metric tonnes of steel every year when the world only uses 1.5 billion.
“You’ve got this enormous overhang on the global market...so America ends up being the dump market and our workers get put out of work.”
However, China’s steel manufacturing muscle doesn’t necessarily impact the U.S. market. In 2017, the U.S. got most of its steel from Canada and Mexico, according to the [Commerce Department](https://www.trade.gov/steel/countries/pdfs/imports-us.pdf).
On Wednesday, the White House announced certain markets, such as Canada and Mexico, may be exempt from the proposed 25 percent tax on steel imports and 10 percent tariffs on aluminium. The administration is expected to make the official announcement on them later this week.
California Gov. Gavin Newsom is moving to dismantle the nation’s largest death row by moving all condemned inmates to other prisons.
Russia says it will relocate naval exercises off the coast of Ireland after Dublin raised concerns about them amid the tense dispute with the West over expansion of the NATO alliance and fears that Russia is preparing to invade Ukraine.
he Australian government has pledged to spend another 1 billion Australian dollars ($704 million) over nine years on improving the health of the Great Barrier Reef after stalling a UNESCO decision on downgrading the natural wonder’s World Heritage status.
President Joe Biden visited the collapsed bridge in Pittsburgh that fell just hours before his previously scheduled trip to promote his infrastructure package — a new law that aims to prevent just such disasters.
President Joe Biden and first lady Jill Biden have added a cat to their pet family. The cat's name is Willow, and she's a 2-year-old, green-eyed, gray, and white tabby from a Pennsylvania farm.
Denmark’s government says it will scrap most pandemic restrictions next week, even as neighboring Sweden has extended its own measures for another fortnight.
The Federal Reserve signaled Wednesday that it plans to begin raising its benchmark interest rate as soon as March, a key step in reversing its pandemic-era low-rate policies that have fueled hiring and growth but also escalated inflation.
Supreme Court Justice Stephen Breyer confirmed that he will retire at the end of the high court's current term.
A conservation group is turning over a historic redwood grove on the Northern California coast to descendants of the original Native American inhabitants.
A California city has voted to require gun owners to carry liability insurance in what's believed to be the first measure of its kind in the United States.
