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.
The United States has issued its first passport with an “X” gender designation for people who don’t identify as male or female.
A group of prominent academics and activists are calling on banks and insurers to avoid the kind of systemic collapse that crippled the world economy back in 2008.
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Facebook the company is losing control of Facebook the product — and of the carefully crafted image it’s spent over a decade selling despite problems like misinformation, human trafficking, and pervasive extremist groups on its platform.
The Supreme Court is allowing the Texas law that bans most abortions to remain in place for now but has agreed to hear arguments in the case on Nov. 1.
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The global energy crisis is about to hit home in the U.S. this winter as high energy prices and expectations of a colder winter than last year put pressure on common heating fuels.
