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.
President Donald Trump says he's ordered the Navy to “shoot down and destroy” any Iranian gunboats found to be harassing U.S. ships. Trump made the announcement on Twitter but provided no details.
Main Street America, a network of 1,600 commercial districts covering 300,000 small businesses, has conducted a survey offering some sobering statistics on the economic impact of the coronavirus pandemic.
President Donald Trump announced what he described as a “temporary suspension of immigration into the United States” on Tuesday. But he said the executive order he plans to sign as soon as Wednesday would apply only to those seeking permanent residency and not temporary workers.
Atlanta Mayor Keisha Lance Bottoms is speaking out against Georgia Gov. Brian Kemp's plan to reopen businesses such as gyms, nail salons, barbershops, and bowling alleys this Friday, April 24.
The Senate has approved a $483 billion coronavirus aid package after Congress and the White House reached a deal. The measure, passed Tuesday by the Senate, would replenish a small-business rescue program, provide hospitals with $75 billion more and implement a nationwide virus testing program to facilitate reopening the economy.
New York Gov. Andrew Cuomo said he had a “functional and effective” Oval Office meeting on Tuesday with President Donald Trump in which he pressed for more federal help as states try to increase testing for the coronavirus.
Oil prices are continuing to collapse, and U.S. stocks dropped to their worst loss in weeks as worries sweep markets about the economic damage caused by the coronavirus outbreak.
Rep. Nino Vitale (R-Ohio 85th District) joined hundreds of protesters at the Ohio state capitol over the weekend, making him one of the few lawmakers to give his tacit support for the small but vocal group of people who are arguing against stay-at-home orders.
Tom Prendergast, the former chairman of the MTA, spoke to Cheddar to offer advice and possible solutions to the paradox of how to run the country's largest public transit network at levels that would help NYC "reopen," while also keeping the millions of daily riders safe.
JetBlue Chairman Joel Peterson said he hoped to avoid furloughs and pay cuts that have been announced by other airlines such as United that would take place after a federally imposed deadline as a stipulation of the airline bailouts.
