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.
Arizona, Texas, and Florida are together reporting about 25,000 new coronavirus cases as new restrictions aimed at combating the spread of the pandemic take hold in the United States and around the world.
Secretary of State Mike Pompeo says the U.S. is imposing travel bans on employees of the Chinese technology giant Huawei and other companies the U.S. determines are assisting authoritarian governments in cracking down on human rights.
The initiative is geared toward students, mid-career workers and the millions now unemployed because of the new coronavirus. But the campaign, called “Find Something New,” was quickly bashed on social media as being tone deaf and inadequate for the times.
The Trump administration has rescinded a rule that would have required international students to transfer schools or leave the country if their colleges hold classes entirely online this fall because of the coronavirus pandemic.
Joe Biden released a plan Tuesday aimed at combating climate change and spurring economic growth in part by overhauling America’s energy industry.
As enhanced unemployment benefits are set to expire at the end of July, HUD secretary Carson, discusses the Trump administration's 'tool kit' meant to protect Americans from evictions beyond the coronavirus pandemic.
Tina Tchen, president and CEO of Time's Up, provides insight into how companies can go about addressing inequities in the workplace.
California Gov. Gavin Newsom has extended the closure of bars and indoor dining statewide and has ordered gyms, churches and hair salons closed in most places as coronavirus cases keep rising.
The United States is grappling with the worst coronavirus outbreak in the world, as Florida shattered the national record for a state’s largest single-day increase in new confirmed cases with a reported 15,299.
Julian Castro, former secretary of Housing & Urban Development, talks about the importance of stable housing for Americans. Castro also dissects former VP Joe Biden's plan to combat the housing crisis.
