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.
Federal Reserve policymakers face an unusual conundrum as they meet this week: A short-term economic outlook that is worsening while the longer-term picture is brightening thanks to the emergence of coronavirus vaccines.
Rep. Barbara Lee (D-Calif. 13th District) talked to Cheddar about her hopes that the American people will join in the push toward an equitable cannabis industry.
As members of the Electoral College meet to cast their votes for the 2020 presidential election, Cheddar explores how the body works and whether it's the best option.
The Supreme Court on Friday rejected a lawsuit backed by President Donald Trump to overturn Joe Biden’s election victory, ending a desperate attempt to get legal issues rejected by state and federal judges before the nation’s highest court and subvert the will of voters.
Sen. Tina Smith (D-Minn.) joined Cheddar to discuss the need for the federal government to provide more help to states in order to effectively distribute the COVID vaccines.
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.
Sen. Mike Lee of Utah objected to the creation of the two proposed Smithsonian museums.
Congress has passed a bill to fund the government for another week, giving lawmakers time to reach an agreement on a new coronavirus relief bill.
The final vote was 84-13, mirroring a similarly overwhelming margin in the House that, if maintained in both chambers, would be enough to override a potential veto.
Gun and ammunition sales have surged this year in the U.S. Michelle Castillo investigates.
