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.
President Joe Biden ordered the United States military to carry out retaliatory airstrikes against Iranian-backed militia groups after three U.S. service members were injured in a drone attack in northern Iraq.
Donald Trump's lawyers are telling a federal appeals court that he was acting within his role as president when he pressed claims about “alleged fraud and irregularity” in the 2020 election.
The Supreme Court says it will not immediately take up a plea by special counsel Jack Smith to rule on whether former President Donald Trump can be prosecuted for his actions to overturn the 2020 election results.
A Congressional oversight committee has opened an investigation into the safety of an Osprey aircraft, weeks after a deadly crash off the coast of Japan that killed eight airmen.
