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.
Former President Donald Trump answered questions for nearly seven hours Thursday during his second deposition in a legal battle with New York's attorney general over his company's business practices, reversing an earlier decision to invoke his Fifth Amendment protection against self-incrimination and remain silent.
Republican Gov. Ron DeSantis has signed into law a bill approved by the Republican-dominated Florida Legislature to ban abortions after six weeks of pregnancy.
A federal appeals court has ruled that the abortion pill mifepristone can still be used for now but reduced the period of pregnancy when the drug can be taken and said it could not be dispensed by mail.
The second of two Black Democrats expelled from the Republican-led Tennessee House will return to the Legislature after a Memphis commission voted to reinstate him Wednesday.
Some abortion clinics are fielding lots of calls from patients since a court ruling last Friday threatened the availability of a main drug used in medication abortion, mifepristone.
The Biden administration released an environmental analysis Tuesday that outlined two ways that seven Western states and tribes reliant on the over-tapped Colorado River could cut their use, but declined to publicly take a side on the best option.
