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.
AT&T and Verizon said Monday they will delay activating new 5G wireless service for two weeks following a request by Transportation Secretary Pete Buttigieg, who cited the airline industry’s concern that the service could interfere with systems on planes.
New Year's Eve, Colorado Fires & Free Money
Cheddar looked back at Year Two of the pandemic to provide a breakdown of the biggest trends impacting money and what they could mean for 2022.
Carlo and Baker cover the news on the Ghislaine Maxwell verdict, the ongoing COVID-19 closures, and the decade-long divorce proceeding of Schwarzenegger and Shriver.
Presidents Joe Biden and Vladimir Putin spoke by phone on Thursday about the Russian troop buildup near Ukraine.
After the tremendous progress cannabis reform made during the 2020 election, 2021 had a lot to live up to — and it did.
Conservation experts in Virginia’s capital pulled books, money, ammunition, documents and other artifacts Tuesday from a long-sought-after time capsule found in the remnants of a pedestal that once held a statue of Confederate Gen. Robert E. Lee.
U.S. health officials are cutting isolation restrictions for Americans who test positive for the coronavirus and shortening the time that close contacts have to quarantine.
New Year celebrations are approaching and across the world there is an urge to party. But the desire to let loose is being countered by the highly transmissible omicron variant.
Revelers will still ring in the new year in New York’s Times Square next week, there just won’t be as many as usual under new COVID-19 restrictions
