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 number of Americans applying for unemployment benefits fell for the seventh straight week to a pandemic low of 268,000.
The House has voted to censure Republican Rep. Paul Gosar of Arizona for posting an animated video that depicted him killing Democratic Rep. Alexandria Ocasio-Cortez with a sword.
Jacob Chansley, the spear-carrying Jan. 6 rioter whose horned fur hat, bare chest and face paint made him one of the more recognizable figures in the assault on the Capitol, has been sentenced to 41 months in prison.
Russian officials on Tuesday rejected accusations that they endangered astronauts aboard the International Space Station by conducting a weapons test that created more than 1,500 pieces of space junk.
President Joe Biden has signed his hard-fought $1 trillion infrastructure deal into law before a bipartisan celebratory crowd on the White House lawn.
President Joe Biden says his administration will help improve public safety and justice for Native American communities.
Democrat Beto O’Rourke is running for governor of Texas. The former El Paso congressman announced his decision Monday.
Longtime Trump ally Steve Bannon has appeared before a judge to face federal contempt charges for defying a subpoena from a House committee investigating January’s insurrection at the U.S. Capitol.
As inflation continues to heat up faster than expected, those on the side of seeing it as a transitory issue tied to the pandemic remain steadfast in their position. Cheddar's Alex Vuocolo takes a look at team transitory and its critics.
Michigan’s attorney general says she drank too much booze before a big football game between Michigan and Michigan State.
