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 demonstration Wednesday centered on fears Bukele may try for re-election in 2024. Protests also voiced concern about the president's concentration of power and the controversial decision to make the cryptocurrency Bitcoin legal tender.
President Joe Biden is trying to hammer out the world’s next steps against rapidly worsening climate change in a private, virtual session with a small group of other global leaders.
The Federal Reserve is reviewing the ethics policies that cover the financial holdings of its senior officials in the wake of disclosures that two regional Fed presidents engaged in extensive trading last year.
North Korea said it successfully launched ballistic missiles from a train for the first time and was continuing to bolster its defenses, after the two Koreas test-fired missiles hours apart in dueling displays of military might.
The slaughter of 1,428 white-sided dolphins as part of a four-century-old traditional drive of sea mammals into shallow water in the Faeroe Islands where they are killed has reignited a debate in the small North Atlantic islands.
The U.S., Britain and Australia have announced they’re forming a new security alliance that will help equip Australia with nuclear-powered submarines.
The number of Americans seeking unemployment benefits moved up last week to 332,000 from a pandemic low, a sign that worsening COVID-19 infections may have slightly increased layoffs.
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President Joe Biden has invited CEOs and business leaders to the White House to discuss COVID-19 mandates.
Massachusetts’ governor has activated the state’s National Guard to help with busing students to school as districts across the country struggle to hire enough drivers.
