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.
Hiring surged in July as American employers added 943,000 jobs.
State lawmakers are telling New York Gov. Andrew Cuomo that their ongoing impeachment investigation is “nearing completion” and gave him a deadline of Aug. 13 to provide additional evidence.
The Mexican government is suing U.S. gun manufacturers and distributors, arguing that their commercial practices have unleashed tremendous bloodshed in Mexico.
The number of Americans applying for unemployment benefits fell last week by 14,000 to 385,000 more evidence that the economy and the job market are rebounding briskly from the coronavirus recession.
The White House will be requiring incoming travelers to the U.S. to be vaccinated., Gov. Cuomo is potentially looking at criminal charges, and Jeopardy! might be heading in a surprise direction for a new host.
The Biden administration wants automakers to raise gas mileage and cut tailpipe pollution between now and model year 2026. It also has won a voluntary commitment from the industry that electric vehicles would make up roughly half of U.S. sales by 2030.
A Belarusian Olympic sprinter who criticized her coaches at the Tokyo Games said Thursday that she showed police at the airport a translated plea for help on her phone as she tried to avoid being put on a plane back home.
The State Department says it's looking into the apparent disappearance of a nearly $6,000 bottle of whisky given more than two years ago to then-Secretary of State Mike Pompeo by the government of Japan.
A majority of state Assembly members support beginning impeachment proceedings against Gov. Andrew Cuomo if he doesn’t resign over investigative findings that he sexually harassed at least 11 women.
Lobbyists for the crypto industry are calling for last-minute revisions to an infrastructure bill provision that could fundamentally change how the federal government treats holders of digital assets.
