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.
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President Joe Biden has directed his intelligence community to study the threat of domestic extremism in the United States.
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Rep. John Garamendi, a Democrat from California, praised President Biden's pic for heading the Department of Defense, Lloyd Austin.
Tom Price, former secretary of Health and Human Services under President Trump, talked to Cheddar about the new administration's plans for taking on COVID-19.
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