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 House is scheduled to vote later Tuesday on a measure to keep the government funded.
Thousands of people are expected in Washington, DC Tuesday for a demonstration to support Israel, condemn anti-Semitism, and call for the release of the roughly 240 hostages held by Hamas.
Maryanne Trump Barry, a retired federal judge and former president Donald Trump 's oldest sister, has died at age 86 at her home in New York.
Supreme Court Adopts Code of Ethics Amid Scrutiny
Battles between Israel and Hamas around hospitals forced thousands of Palestinians to flee from some of the last perceived safe places in northern Gaza, stranding critically wounded patients, newborns and their caregivers with dwindling supplies and no electricity, health officials said Monday.
Former House Speaker Kevin McCarthy is still undecided about running for re-election.
Secret Service agents protecting President Joe Biden’s granddaughter opened fire after three people tried to break into an unmarked Secret Service vehicle in the nation’s capital, a law enforcement official told The Associated Press.
South Carolina Sen. Tim Scott has dropped out of the 2024 presidential race.
Former House Speaker Kevin McCarthy is undecided about running for re-election.
Thousands took to the streets in San Francisco to protest the kickoff of the Asia Pacific Economic Cooperations Summit.
