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.
In President Joe Biden's first notable gun control measures, he has announced executive actions aimed at addressing what the White House calls a “gun violence public health epidemic.
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Treasury Secretary Janet Yellen called on the world's most powerful nations to pass a global minimum corporate tax of 21 percent to create "a more level playing field."
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Vineyard Wind CEO Lars Thaaning Pedersen spoke to Cheddar about beginning production of its wind power farm off the coast of Massachusetts.
President Joe Biden is set to announce that he's shaving about two weeks off his May 1 deadline for states to make all adults eligible for coronavirus vaccines.
