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.
The president claimed that the drone attack on Iran's Major General Qassem Soleimani was meant to reduce tensions in the region, but the Democrats contend the targeted killing may have the opposite result.
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.
Jacob Rich, a policy analyst from Reason Foundation, which advocates for individual liberty and free markets, said the Trump administration ban on flavored e-cigarettes is “not quite effective.”
Hours after the attack at Baghdad International Airport, the Department of Homeland Security's top cybersecurity official reissued a summer bulletin warning of increased cyberattacks by the Iranian government and its allies.
The United States is sending nearly 3,000 more Army troops to the Mideast as reinforcements in the volatile aftermath of the killing of an Iranian general in a strike ordered by President Donald Trump, defense officials said Friday.
Sen. Elizabeth Warren said Friday that she raised $21.2 million from October through December, while Sen. Amy Klobuchar said she took in $11.4 million for her White House bid to close out the year.
The majority of the top 10 candidates spent more on television and radio advertising than they did on Facebook ads by the end of November.
These are the headlines you Need 2 Know for Friday, January 3, 2020.
The number dropped by 2,000 to 222,000 in the seven days up until December 28, although the four-week average ticked up by 4,750 to 233,250.
The administration announced Thursday that it will prohibit fruit, candy, mint and dessert flavors from small, cartridge-based e-cigarettes that are popular with high school students. But menthol and tobacco-flavored e-cigarettes will be allowed to remain on the market.
