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.
Phumzile Mlambo-Ngcuka is launching a new global program called "Generation Equality: Realizing women's rights for an equal future," a partnership between UN Women, the World Economic Forum, the private sector, and Gates Foundation.
Republican Senator Mitt Romney from Utah told Cheddar he would be interested in hearing from John Bolton as the president's impeachment trial defense headed into its final day.
Speaking before Trump's attorneys begin their final day of defense arguments in the impeachment trial Schumer maintained Democrats would not bargain on witnesses.
U.S. officials say President Donald Trump's long-awaited Middle East peace plan calls for the creation of a State of Palestine with its capital in portions of east Jerusalem.
These are the headlines you Need 2 Know for Tuesday, January 28, 2020.
The Republican senator from Texas gave some indication that he was curious about the alleged bombshell manuscript by former national security advisor John Bolton that might further implicate President Trump in his trial.
Trump's lawyers on Monday brushed past the extraordinary allegations in the draft of a new book by his former national security adviser as the legal team made historical and legal arguments for acquittal.
GOP and Dem senators offered different reactions to a bombshell New York Times report that ex-National Security Advisor John Bolton wrote in a manuscript that President Trump told him that he froze aid to Ukraine in exchange for a Biden investigation.
U.S. stocks fell sharply Monday as investors worry about the potential economic impact of the outbreak of a new virus from China. The declines in the U.S. followed a sell-off in markets in Europe and Japan.
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.
