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.
An appeals court has suspended Rudy Giuliani from practicing law in New York because he made false statements while trying to get courts to overturn Donald Trump’s loss in the presidential race.
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After weeks of regulatory crackdowns and public denouncements, the Chinese government has delivered a crushing blow to bitcoin mining in the country.
Apple Daily was forced to shut down Thursday after five editors and executives were arrested and millions of dollars in its assets were frozen as part of China’s increasing crackdown on dissent in the semi-autonomous city.
The Supreme Court has ruled that a Pennsylvania public school wrongly suspended a cheerleader over a vulgar social media post.
Gov. Ned Lamont has signed a bill making Connecticut the 19th state to legalize recreational use of marijuana, which remains an illegal drug under federal law.
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Federal Reserve Chairman Jerome Powell testified before the House Select Subcommittee on the Coronavirus Crisis on Tuesday.
The Democrats’ expansive elections and voting bill is all but certain to be rejected in a key Senate test vote.
German soccer clubs are banding together to display rainbow colors during the country’s match against Hungary at the European Championship after UEFA rejected host city Munich’s plan to do the same.
