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.
These are the headlines you Need 2 Know.
These are the headlines you Need 2 Know.
These are the headlines you Need 2 Know on Tuesday, September 3, 2019.
These are the headlines you Need 2 Know on Tuesday, September 3, 2019.
These are the headlines you Need 2 Know for Friday, Aug. 30, 2019.
The new proposal, an effort to reverse regulations put in place under President Obama, would — if enacted — eliminate requirements that oil and gas producers inspect for, and repair, methane leaks from their wells, pipelines, and manufacturing facilities.
U.S. markets extended a rally after dovish comments from a top Chinese official indicated that it would not retaliate with tariffs, at least for now.
Patrick Murray, director of the Monmouth University Polling Institute, admitted Wednesday that a poll showing a statistical dead heat between Joe Biden, Bernie Sanders, and Elizabeth Warren, was an outlier among polls.
The British pound sterling fell sharply after British PM Boris Johnson announced he was asking for Parliament to be suspended from mid-September until mid-October ー a highly controversial move that critics say is intended to keep MPs from avoiding a no-deal Brexit and plunged the British government into crisis once again, two months before a looming deadline.
These are the headlines you Need 2 Know for Wednesday, Aug. 28, 2019.
