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.
The Senate has voted to begin debating a $1.9 trillion COVID-19 relief bill.
The impact of Texas' governor repealing many of the state’s COVID-19 restrictions is beginning to take shape.
The number of Americans applying for unemployment benefits edged higher last week to 745,000, a sign that many employers continue to cut jobs despite a drop in confirmed viral infections and evidence that the overall economy is improving.
A somber New York Gov. Andrew Cuomo is apologizing following sexual harassment allegations against him.
Rep. Kat Cammack (R-Fla. 3rd District), spoke to Cheddar regarding her concerns about spending priorities and the price tag of the latest COVID relief bill being put forth by Democrats.
Former Department of Homeland Security acting secretary under Trump, Chad Wolf, talked to Cheddar about domestic terrorism, border control, and cybersecurity.
Mario Schlosser, CEO and co-founder of Oscar Health, spoke to Cheddar about the future of healthcare and insurance in the United States after the company went public.
A Democratic official says President Joe Biden and Senate Democrats have agreed to tighten the upper-income limits at which people could qualify for stimulus checks in the party's $1.9 trillion coronavirus relief bill.
President Joe Biden says the U.S. expects to take delivery of enough coronavirus vaccines for all adult Americans by the end of May, two months earlier than anticipated.
State Representative Marcus C. Evans, Jr. from Chicago filed amendments to an Illinois bill that would further ban games considered to be too violent from reaching the hands of minors.
