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.
More than $200 billion may have been stolen from two large COVID-19 relief initiatives, according to new estimates from a federal watchdog investigating federally funded programs that helped small businesses survive the worst public health crisis in more than a hundred years.
Using chainsaws, heavy machinery and controlled burns, the Biden administration is trying to turn the tide on worsening wildfires in the U.S. West through a multi-billion dollar cleanup of forests choked with dead trees and undergrowth.
The Supreme Court ruled Tuesday that state courts can act as a check on their legislatures in redistricting and other issues affecting federal elections, rejecting arguments by North Carolina Republicans that could have transformed contests for Congress and president.
Ron DeSantis asked a federal judge to throw out a lawsuit from Walt Disney Co. that accused the Florida governor of violating its contract with the state for his recent actions against the company.
Florida Gov. and 2024 presidential candidate Ron DeSantis outlined key immigration policies in Texas on Monday, vowing to end birthright citizenship along with mass detention and deportations.
New Zealand acknowledged it has an aging Boeing 757 so prone to breakdowns they had sent an empty backup to ensure Prime Minister Chris Hipkins didn't get stranded in China, where he is leading a trade delegation.
Delaware state Sen. Sarah McBride announced Monday she's running for the U.S. House of Representatives. Already the first openly transgender state senator elected in the country, she'd be the first transgender member of Congress if she wins in November.
