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.
Texas is lifting a COVID-19 mask mandate that was imposed last summer but has only been lightly enforced. Republican Gov. Greg Abbott’s announcement Tuesday makes Texas the largest state to do away with a face covering order.
Drugmaker Merck & Co. will help produce rival Johnson & Johnson’s newly approved coronavirus vaccine in an effort to expand supply more quickly.
Calls for New York Gov. Andrew Cuomo to resign are intensifying now that a third woman has accused him of offensive behavior.
The pill comprises 40% of the profits in the U.S. contraceptive market and 25% of contraceptive consumers, causing millions of unnecessary ‘periods’ along the way. So, why hasn’t birth control evolved beyond the pseudo-period?
This is your Washington Week Ahead for the week of March 1.
U.S. health advisers have endorsed a one-dose COVID-19 vaccine from Johnson & Johnson that's expected to provide an easier-to-use option to fight the pandemic.
Following the Senate Intelligence Committee hearing on the widespread SolarWinds cyberattack, cybersecurity experts are pushing the need for private businesses and federal agencies to cooperate closely to prevent future such breaches.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Andy Purdy, chief security officer for the company's U.S. division, refuted reports that Huawei would be manufacturing electric cars of its own.
Democrats are looking to Biden to aggressively pursue judicial appointments following Trump's rapid rate of picks. Advocates point to some early signs that the new president may be following their lead.
