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.
Despite uncertainty on who exactly will be in the White House, the Senate in GOP control, and the House in Democratic hands, Wall Street is riding high.
President Trump won support from about 8 in 10 white evangelical Protestant voters, according to the AP VoteCast. But Catholic voters split almost evenly between him and Joe Biden.
Election officials in key battlegrounds are pressing forward with vote counting, two days after Election Day. Democrat Joe Biden is urging patience, while President Donald Trump is pursuing legal options, insisting the processing of ballots should be stopped.
Katie Hobbs, Arizona's Secretary of State, joined Cheddar to discuss the safety of poll workers as President Trump levels accusations at the process and when Americans can expect an update.
Michigan Secretary of State, Jocelyn Benson joined Cheddar to discuss Trump's attempts to increase doubt in the election process and the state's security protocols that were taken to protect against such attacks.
The Fed announced no new actions after its latest policy meeting but left the door open to provide further assistance in the coming months.
As Democrat Joe Biden inches closer to the 270 Electoral College votes needed to win the White House, President Donald Trump’s campaign has put into action the legal strategy the president had signaled for weeks.
Joe Biden has won Michigan and Wisconsin, pushing him closer to 270 Electoral College votes and narrowing President Donald Trump’s path to reelection.
The Trump campaign says it has filed lawsuits Wednesday in Pennsylvania and Michigan, laying the groundwork for contesting the outcome in undecided battleground states.
Councilman Ritchie Torres became the first openly gay Black man to win a Congressional seat on Election Day. He will now represent New York's 15th District recently vacated by long-time Congressman José Serrano.
