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.
El Salvador President Nayib Bukele has announced that he will send proposed legislation to the country’s congress to make bitcoin legal tender in the Central American nation.
California's reservoirs are shrinking quickly as a drought grips the western United States.
Facebook says it will suspend former President Donald Trump's accounts for two years following its finding that he stoked violence ahead of the deadly Jan. 6 insurrection.
U.S. employers added a modest 559,000 jobs in May, an improvement from April’s sluggish gain but still evidence that many companies are struggling to find enough workers as the economy rapidly recovers from the pandemic recession.
Gas pipelines have long been a vulnerable target due to their value and exposed nature, yet while government agencies have doubled down on physical security, cybersecurity has been overlooked for decades.
The number of Americans seeking unemployment benefits fell last week for a fifth straight week to a new pandemic low
Amazon says it will no longer test jobseekers for marijuana use. The e-commerce giant, which is the second-largest private employer in the U.S. behind Walmart, is making the change as several states legalize cannabis.
An emotional President Joe Biden has marked the 100th anniversary of the massacre that wiped out a thriving Black community in Tulsa, Oklahoma.
China's leaders are easing limits on how many children each couple can have, hoping to counter the rapid aging of Chinese society.
The Supreme Court is leaving in place a $2 billion verdict in favor of women who say they developed ovarian cancer from using Johnson & Johnson talc products.
