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.
The truck blockade at the U.S. border by Canadians protesting the country’s COVID-19 restrictions is tightening the screws on the auto industry, forcing Ford, Toyota and General Motors to shut down plants or otherwise curtail production.
Inflation was hotter than expected in January, but the debate over what this means for the economy is getting even hotter as markets brace for a flurry of Fed rate hikes in 2022.
Inflation soared over the past year at its highest rate in four decades, hammering America’s consumers, wiping out pay raises and reinforcing the Federal Reserve’s decision to begin raising borrowing rates.
A rapidly growing list of Canadian provinces moved to lift their COVID-19 restrictions as protesters decrying vaccine mandates and other precautions kept up the pressure with truck blockades.
The House has approved legislation financing federal agencies for another month. It's the latest emblem of Congress’ inability to finish its budget work on time.
The IRS said Monday it will suspend the use of facial recognition technology to authenticate people who create online accounts after the practice was criticized by privacy advocates and lawmakers.
The first lady says real people often are caught in the middle. She spoke Monday in Washington about a now-stalled proposal for tuition-free community college, which she's pushed for a long time as a community college professor.
In a flurry of diplomacy across two continents, President Joe Biden emerged from a meeting with Germany’s new leader to vow the crucial Nord Stream 2 gas pipeline in Europe would be blocked if Russia further invades Ukraine.
Kristin Myers, Editor-in-Chief at The Balance, joined Cheddar News to preview the January jobs report, and to break down the racial disparity in employment numbers in the U.S.
