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.
Trump once declared in a 1999 interview that he is "pro-choice in every respect." Now, as he heads into the 2020 election, Trump continues to reach out to the white evangelical voters who have proven to be among his most loyal backers.
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Steven Mnuchin says Swedish climate activist Greta Thunberg is in no position to give economic advice until she goes to college and comes out with an economics degree.
Chinese authorities Thursday moved to lock down three cities with a combined population of more than 18 million people in an unprecedented effort to contain the deadly new virus that has sickened hundreds and spread to other parts of the world during the busy Lunar New Year travel period.
The Special Initiative for Offshore Wind, a research and advocacy organization at the University of Delaware, and the American Wind Energy Association, a trade group, hope to solicit comments and concerns from potential critics.
Experts Hagar Chemali and Michèle Flournoy discussed the pitfalls and paths forward between the U.S. and Iran following recent tensions.
These are the headlines you Need 2 Know for Thursday, January 23, 2020.
The marketing firm Brand USA has been charged with drawing in more of those tourists to "the most aspirational destination in the world," CEO Chris Thompson told Cheddar Wednesday.
UN experts Wednesday called for an investigation into reports that the crown prince of Saudi Arabia hacked into Amazon founder Jeff Bezos' phone via WhatsApp.
These are the headlines you Need 2 Know for Wednesday, January 22, 2020.
