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.
Supreme Court nominee Amy Coney Barrett has presented her conservative approach to the law at the start of a fast-tracked confirmation hearing.
President Donald Trump is looking to get his campaign back on track, a week after he was sidelined with the coronavirus that has killed more than 210,000 Americans.
U.S. Rep. Ken Buck (R-Colo.) joined Cheddar to discuss how Congress and the judiciary should approach big tech monopolies. Buck was clear that the Democrats and Republicans, however, disagree on just how to go about shrinking the tech giants.
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.
The White House is boosting its offer in up-and-down COVID-19 aid talks Friday in hopes of an agreement before Election Day.
Former GOP presidential candidate Carly Fiorina discussed her support of Joe Biden's bid for the presidency. Also, the former CEO of Hewlett-Packard, she attributed her support for Biden due to a lack of leadership from President Trump and his failed foreign policies.
Democratic lawmakers are speaking out against a proposed Labor Department rule that they argue would make it harder for retirement funds to consider important environmental factors when making investment decisions.
A new Cheddar poll, conducted by SurveyUSA, on Supreme Court nomination, abortion law, and the Affordable Care Act.
It’s suddenly up in air when the next presidential debate, or maybe debates, may take place.
Six have been charged in federal court with plotting to kidnap Michigan Democratic Gov. Gretchen Whitmer, and separately, seven more have been charged with trying to target police and the Michigan Capitol.
