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 number of Americans seeking unemployment benefits fell by 89,000 last week to a still-elevated 803,000, evidence that the job market remains under stress.
President Donald Trump is threatening to torpedo Congress’ massive pandemic relief package in the midst of a raging pandemic and deep economic uncertainty.
Pfizer and BioNTech will supply the U.S. with an additional 100 million doses of their COVID-19 vaccine under a new agreement.
Stuffed into the new emergency relief package is a morsel that President Donald Trump has long had on the buffet of his economic wish list: restoring full tax breaks for restaurant business meals.
The Justice Department is suing Walmart, alleging the company unlawfully dispensed controlled substances through its pharmacies, helping to fuel the opioid crisis in America.
The coordinator of the White House coronavirus response says she plans to retire. But first, Dr. Deborah Birx says, she's willing to help President-elect Joe Biden’s team with its coronavirus response if needed.
While the U.S. reels from the massive SolarWinds hack, which compromised government agencies and private tech companies, experts predict more attacks on high-value targets are likely to occur.
Congress passed a $900 billion pandemic relief package Monday night that would finally deliver long-sought cash to businesses and individuals and resources to vaccinate a nation confronting a frightening surge in COVID-19 cases and deaths.
Spreading the word that the COVID vaccine is safe and effective is Rep. Adriano Espaillat, D-N.Y., who represents Harlem and much of Upper Manhattan.
President-elect Joe Biden received his first dose of the coronavirus vaccine on live television as part of a growing effort to convince the American public the inoculations are safe.
