President Trump is now using tariffs as a negotiation tactic. Trump tweeted Monday morning saying "tariffs on steel and aluminum will only come off if new and fair NAFTA agreement is signed." Later on Monday Trump told reporters the White House is not backing down. CFRA Equity Research Analyst Matthew Miller explains why his outlook remains positive on the steel sub industry.
"Ultimately Canada and Mexico--the US is an extremely important trading partner for all three groups. We think that in order for steel tariffs to be effective either steel tariffs need to be applied all throughout the NAFTA region to prevent circumvention or it has to be applied across the board," said Miller.
Miller says he is not surprised Trump is leaning towards stiff tariffs, given his promise to protect the steel industry.
China has restricted exports of high-tech metals gallium and germanium, which are critical to making chips, in response to the U.S. blocking them from access to advanced chips.
Former New Jersey Gov. Chris Christie said President Joe Biden and former President Donald Trump are "beyond their sell-by date" in an interview with The New York Times.
Overturning Roe v. Wade and eliminating affirmative action in higher education had been leading goals of the conservative legal movement for decades. In a span of 370 days, a Supreme Court reshaped by three justices nominated by President Donald Trump made both a reality.
