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.
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The number of Americans applying for unemployment benefits edged higher last week to 745,000, a sign that many employers continue to cut jobs despite a drop in confirmed viral infections and evidence that the overall economy is improving.
A somber New York Gov. Andrew Cuomo is apologizing following sexual harassment allegations against him.
Rep. Kat Cammack (R-Fla. 3rd District), spoke to Cheddar regarding her concerns about spending priorities and the price tag of the latest COVID relief bill being put forth by Democrats.
Former Department of Homeland Security acting secretary under Trump, Chad Wolf, talked to Cheddar about domestic terrorism, border control, and cybersecurity.
Mario Schlosser, CEO and co-founder of Oscar Health, spoke to Cheddar about the future of healthcare and insurance in the United States after the company went public.
A Democratic official says President Joe Biden and Senate Democrats have agreed to tighten the upper-income limits at which people could qualify for stimulus checks in the party's $1.9 trillion coronavirus relief bill.
President Joe Biden says the U.S. expects to take delivery of enough coronavirus vaccines for all adult Americans by the end of May, two months earlier than anticipated.
State Representative Marcus C. Evans, Jr. from Chicago filed amendments to an Illinois bill that would further ban games considered to be too violent from reaching the hands of minors.
