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, in a fiery letter to House Speaker Nancy Pelosi, is objecting to impeachment articles and accuses Democrats of “subverting” democracy. Trump's letter to the speaker came as Democrats were pushing ahead toward a Wednesday vote expected to result in his impeachment.
The middle-of-the-night moves on Capitol Hill blindsided the solar sector. The industry had launched an ambitious lobbying effort this summer to extend the industry's tax credit and until last night had believed that an extension would be included in the tax packages.
These are the headlines you Need 2 Know for Tuesday, December 17, 2019.
Cheddar's Justin Chermol spent time with Mayor Pete boosters in the early primary state of New Hampshire.
U.S. stocks rallied in early trading Monday, rising with European and several Asian markets after China, the world's second-largest economy, reported surprisingly strong signs of life.
These are the headlines you Need 2 Know for Monday, December 16, 2019.
Led by Advisor to the President, Ivanka Trump, the White House Summit on Child Care and Paid Leave is the first major meeting on the issue by the Trump Administration.
Impeachment charges against President Donald Trump went to the full House on Friday, following approval by the House Judiciary Committee.
Boris Johnson's gamble on early elections paid off as voters gave the UK prime minister a commanding majority to take the country out of the European Union by the end of January, a decisive result after more than three years of stalemate over Brexit.
A self-described activist, Zozibini Tunzi said she hopes to continue her work against gender-based violence and in favor of gender equality.
