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.
Stock indexes edged mostly higher in afternoon trading Friday after President Donald Trump outlined several actions in response to China eroding the autonomy of Hong Kong, but did not mention any moves to upend a trade pact struck with Beijing earlier this year.
President Donald Trump has announced that the U.S. will be terminating its relationship with the World Health Organization.
Some upstate New York business owners who made plans to reopen Friday remain closed amid last-minute confusion over whether their region indeed has the OK to move forward
Twitter has added a warning to one of President Donald Trump's tweets about protests in Minneapolis, saying it violated the platform's rules about “glorifying violence."
Cheering protesters torched a Minneapolis police station that the department abandoned as three days of violent protests spread to nearby St. Paul and angry demonstrations flared across the U.S over the death of George Floyd, a handcuffed black man who pleaded for air as a white police officer kneeled on his neck.
U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession.
Wall Street’s rally ran out of fuel in the last hour of trading on Thursday, and the market fell to its first loss in four days amid worries about rising U.S.-China tensions.
President Donald Trump is escalating his war on social media companies, preparing to sign an executive order Thursday challenging the liability protections that have served as a bedrock for unfettered speech on the internet.
Michigan Secretary of State Jocelyn Benson pushed back against President Trump's attacks on mail-in voting, which have continued for days, leading Twitter to put up its first fact checks on the president's account.
The House has passed an overwhelmingly bipartisan measure to modify a new “paycheck protection” program for businesses that have suffered COVID-related losses.
