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.
Chinese President Xi Jinping signaled that China will send new pandas to the United States, calling them “envoys of friendship between the Chinese and American peoples.
A jury on Thursday convicted the man who broke into former U.S. House Speaker Nancy Pelosi’s San Francisco home seeking to hold her hostage and attacked her husband with a hammer of federal charges of attempted kidnapping and assault.
New Jersey is dropping its requirement that candidates for office sign an oath that includes the words “so help me God” in filing paperwork for their candidacy.
