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.
Israeli fighter jets hit targets in the Gaza Strip minutes after a weeklong truce expired on Friday, signaling that the war with Hamas has resumed in full force.
Democrats on the Senate Judiciary Committee voted Thursday to authorize subpoenas for two prominent conservatives who arranged luxury travel and other benefits for Supreme Court justices, but Republicans planned to object to the legitimacy of the action.
Someone in China created thousands of fake social media accounts designed to appear to be from Americans and used them to spread polarizing political content in an apparent effort to divide the U.S. ahead of next year's elections, Meta said Thursday.
The House voted on Friday to expel Republican Rep. George Santos of New York after a critical ethics report on his conduct that accused him of converting campaign donations for his own use. He was just the sixth member in the chamber's history to be ousted by colleagues.
