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.
Hackers have broken into a Washington, D.C. health insurance marketplace and stolen sensitive personal data including Social Security numbers and home addresses of members of Congress, their employees and family members.
Senate Republican leader Mitch McConnell suffered a concussion after a fall at a local hotel and remains hospitalized “for a few days of observation and treatment,” a spokesman said Thursday.
Norfolk Southern's CEO is apologizing to Congress on Thursday and pledging millions of dollars to help East Palestine, Ohio, recover from the fiery hazardous materials train derailment as senators investigate.
The RESTRICT Act seeks to proactively tackle dangerous technology, including TikTok, according to a bipartisan group of senators that includes Mark Warner (D-Va.).
