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.
California Governor Gavin Newsom is projected to keep his job. Around two-thirds of the votes have been reported, and roughly 64% of those votes are in favor of keeping Newsom as their governor.
Daniel Strauss, senior political correspondent at The New Republic, joined Cheddar's Opening Bell to discuss more about what Newsom's win means to both political parties moving into Midterm elections season.
The Department of Justice is suing Texas over the state's new abortion law that prohibits abortions after six weeks, well before many women even know they're pregnant. The lawsuit argues the law is unconstitutional under long-standing Supreme Court precedent. It was filed last week in federal court in Texas, but could go all the way to the high court within weeks. Josh Blackman, a constitutional law professor at South Texas College of Law Houston, discusses the DOJ lawsuit and what it could mean for other abortion laws across the country.
26 states have now fully vaccinated more than half of their population with Vermont, Connecticut, and Massachusetts fully vaccinating at least two-thirds of their residents. These three states are among the ones with the lowest new Covid-19 cases per capita, but in states with low vaccination rates, hospitals are filling up again.
Dr. Rob Davidson, ER doctor and executive director of Committee to Protect Health Care, joined Cheddar's Opening Bell to discuss more.
The Biden Administration has officially extended a ban on a Trump-era policy that prohibits traveling with a U.S. passport to North Korea. The extension is expected to last until August 2022. The ban was initially enforced after the death of Otto Warmbier, who entered a vegetative state while in North Korean custody. Advocates against the ban argue that it has caused crippling impacts on Korean Americans who have not been able to reunite with their families back home. Senior Fellow at The Foundation For Defense of Democracies Anthony Ruggiero joined Cheddar's News Wrap to discuss more.
