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.
Ongoing tensions between the U.S. and Iran this week have reignited the debate about whether or not bitcoin works as a safe haven asset in times of heightened geopolitical uncertainty.
Democratic presidential candidate Marianne Williamson, the spiritual guru and bestselling author, ended her campaign on Friday, weeks before voting begins,
Secretary of State Mike Pompeo and Treasury Secretary Steve Mnuchin announced new sanctions against Iran and its economy.
In a letter to her Democratic colleagues, Pelosi said she was proud of their "courage and patriotism" and warned that senators now have a choice as they consider the charges of abuse and obstruction against the president.
U.S. employers downshifted on hiring in December, adding 145,000 jobs, with steady spending by Americans continuing to steer economic growth heading into a presidential election year.
Here are the headlines you Need 2 know for Friday, January 10, 2020
The House approved a resolution on Thursday to force the president to halt military action against Iran without Congressional authorization, restarting conversations on the role of Congress in war.
Experts say geopolitical tensions and sanctions make a hard job already harder, restricting the flow of information necessary to find the facts of the crash.
The Iowa Senator made the characterization to Cheddar after his Republican colleagues Sens. Mike Lee (R-Utah) and Rand Paul (R-Ky.) blasted the president's long-awaited and delayed briefing on the killing.
The officials, citing U.S. intelligence, spoke on the condition of anonymity to discuss sensitive information. They said they had no certain knowledge of Iranian intent. But they said it could very well have been a mistake, and that the airliner was mistaken for a threat.
