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.
Experts and insiders agree the coming year could have a lot in store for the maturing cannabis industry, from acceleration of M&A and funding in the capital markets to continuing momentum toward legalization on the state level.
Within a span of about 24 hours, three House Democrats have announced they tested positive for COVID-19.
Corporate America is quickly distancing itself from the defeated President Donald Trump.
With impeachment pressure mounting, the House is speeding ahead to try to oust President Donald Trump from office.
Rep. Swalwell of California didn't mince words when pressing for the removal of Donald Trump from the presidency, along with GOP officials he alleged were his accomplices for inciting the Capitol Hill attack.
Democratic Rep. Bonnie Watson Coleman of New Jersey says she has tested positive for COVID-19.
Following the chaotic scenes of the riot on Capitol Hill, many brands have had to rethink their advertising strategies.
Melania Trump says she's “disappointed and disheartened" by the deadly riot at the Capitol by supporters of her husband.
Mbye Njie, an activist and founder of the Legal Equalizer app, joined Cheddar to explain how the product might help Black and minority drivers and police officers alike during a traffic stop.
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.
