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.
U.S. officials say efforts ordered by President Joe Biden to strengthen defenses against Chinese espionage helped identify last week’s spy balloon — and determine that similar flights were conducted at multiple points during the Trump administration.
Control of Disney's Orlando area theme parks may soon go to a board chosen by Governor Ron DeSantis. Republican lawmakers unveil the bill that would give Republicans authority over the state's largest employer.
Thousands killed in Turkey earthquake, Ohio train derailment danger, and Europe bans Russian diesel imports. Here is everything you Need2Know for Monday, February 6, 2023.
Republicans said President Joe Biden allowed China to spy on the U.S. by not shooting the balloon down sooner while Democrats said similar incursions happened during the Trump administration.
A huge, high-altitude Chinese balloon sailed across the U.S. on Friday, drawing severe Pentagon accusations of spying and sending excited or alarmed Americans outside with binoculars
