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.
Barry Valentine, senior advisor at The Wicks Group and former FAA administrator, joined Cheddar News to discuss the massive system outage that caused thousands of flight delays.
The World Economic Forum on Wednesday released its annual Global Risks Report, which found that global leaders are more concerned about the cost of living than climate change.
A bill that would try to abolish the Internal Revenue Service (IRS) and eliminate federal income tax was reintroduced on Tuesday by Georgia Republican Rep. Buddy Carter.
