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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San Jose Mayor Sam Liccardo, a Democrat, talked to Cheddar about why he believes that former President Trump deserves harsh punishment in connection to the Capitol Hill riots on January 6.
Janet Yellen, set to become the first female treasury secretary, spoke before the Senate Finance Committee and laid out her case for aggressive fiscal action in the months ahead.
President Joe Biden’s top adviser on the pandemic says the United States will again fund the World Health Organization and join its consortium aimed at sharing coronavirus vaccines fairly around the globe.
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President Joe Biden has signed a series of executive orders from the Oval Office hours after his inauguration.
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The Canadian company behind the Keystone XL oil pipeline says it has suspended work on the pipeline in in anticipation of incoming U.S. President Joe Biden revoking its permit.
Joe Biden swears the oath of office to become the 46th president of the United States, taking the helm of a deeply divided nation and inheriting a confluence of crises arguably greater than any faced by his predecessors.
