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.
Dollar-pegged cryptocurrencies called stablecoins are on the rise, and U.S. regulators are taking notice.
Senate Republicans have rejected an effort to begin debate on a bipartisan infrastructure deal that senators brokered with President Joe Biden.
While the Biden administration has been busy undoing some of former President Trump's legacy decisions, the latest military branch, the U.S. Space Force established in 2019, isn't going anywhere.
Israeli Prime Minister Naftali Bennett spoke to the head of Unilever after its subsidiary Ben & Jerry’s announced it would stop selling its ice cream in the Israeli-occupied West Bank and contested east Jerusalem.
Canada will begin letting fully vaccinated U.S. citizens into Canada on Aug. 9, and those from the rest of the world on Sept. 7.
The Biden administration is blaming China for a hack of Microsoft Exchange email server software that compromised tens of thousands of computers around the world earlier this year.
The State Department will offer rewards up to $10 million for information leading to the identification of anyone engaged in foreign state-sanctioned malicious cyber activity, including ransomware attacks, against critical U.S. infrastructure.
The U.S. government is starting to deposit child tax credit money into the accounts of more than 35 million families.
Democratic Senators Chuck Schumer, Cory Booker, and Ron Wyden unveiled the draft of a historic cannabis decriminalization bill on Wednesday, more than five months after originally announcing it.
While testifying before Congress on Wednesday, Federal Reserve Chairman Jerome Powell offered his most extensive comments yet on the possibility of a central bank digital currency.
