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 Defense Department says the U.S. military conducted airstrikes against what it says were “facilities used by Iran-backed militia groups” near the border between Iraq and Syria.
Former Minneapolis police Officer Derek Chauvin has been sentenced to 22 1/2 years in prison for the murder of George Floyd, whose dying gasps under Chauvin’s knee led to the biggest outcry against racial injustice in the U.S. in generations.
President Joe Biden has announced a bipartisan agreement on a pared-down infrastructure plan that would make a start on his top legislative priority and validate his efforts to reach across the political aisle.
An appeals court has suspended Rudy Giuliani from practicing law in New York because he made false statements while trying to get courts to overturn Donald Trump’s loss in the presidential race.
The final edition of Hong Kong’s last remaining pro-democracy paper sold out in hours, as readers scooped up all 1 million copies of the Apple Daily.
After weeks of regulatory crackdowns and public denouncements, the Chinese government has delivered a crushing blow to bitcoin mining in the country.
Apple Daily was forced to shut down Thursday after five editors and executives were arrested and millions of dollars in its assets were frozen as part of China’s increasing crackdown on dissent in the semi-autonomous city.
The Supreme Court has ruled that a Pennsylvania public school wrongly suspended a cheerleader over a vulgar social media post.
Gov. Ned Lamont has signed a bill making Connecticut the 19th state to legalize recreational use of marijuana, which remains an illegal drug under federal law.
The Tokyo Olympics are not looking like much fun: Not for athletes. Not for fans. And not for the Japanese public.
