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.
President Joe Biden says the U.S. military mission in Afghanistan will conclude on Aug. 31. He says “speed is safety” as the United States seeks to end the nearly 20-year war.
Fans will be banned from the Tokyo area’s stadiums and arenas when the Olympic Games begin in two weeks.
Federal Reserve officials began debating at their June meeting when and how they would reduce the monthly bond purchases that they have used to keep longer-term interest rates in check.
Former President Donald Trump has filed suit against three of the country's biggest tech companies, claiming he and other conservatives have been wrongfully censored.
Haitian President Jovenel Moïse was assassinated in an attack on his private residence early Wednesday, according to a statement from the country’s interim prime minister.
The Pentagon said it has canceled a cloud-computing contract with Microsoft that could eventually have been worth $10 billion and will instead pursue a deal with both Microsoft and Amazon.
Ukraine's defense minister is under pressure from members of the government over the decision to have female military cadets wear mid-heeled pumps in a parade
Conservative Supreme Court Justice Clarence Thomas took a surprising stand on cannabis.
After two months of lower than expected job gains, the June jobs data has brought some cheer to those looking for a faster economic recovery.
America’s employers added 850,000 jobs in June, well above the average of the previous three months and a sign that companies may be having an easier time finding enough workers to fill open jobs.
