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.
One day after saying that the COVID-19 task force would be winding down, President Donald Trump says it would continue on indefinitely, but focus on rebooting the economy.
David Banmiller, an airline industry insider and former CEO of Pan Am, doesn't like referring to the $25 billion of relief the airline industry got from the federal government as a 'bailout.'
An Associated Press analysis finds that taking the New York metropolitan area’s progress against the coronavirus out of the equation shows the rest of the U.S. moving in the wrong direction, with the infection rate rising even as states move to lift their lockdowns.
Stocks closed higher on Wall Street but gave up about half of their early gains in a late-afternoon bout of selling. The S&P 500 rose 0.9% Tuesday after being up 2% earlier.
Vice President Mike Pence says the White House coronavirus task force could wind down its work by early June.
Randi Weingarten, president of the American Federation of Teachers, told Cheddar on Tuesday that they were not prepared to switch so quickly and have been working well with what they have, but online learning simply isn't the same as teaching in person.
The trip means a small army of advisers, logistical experts and security staff will also resume regularly hitting the road and taking a measure of risk to assist Trump.
Stocks are rallying worldwide on Tuesday as more countries relaxed restrictions on businesses, raising hopes for a recovery from the historic plunge sweeping the global economy.
As governments around the world consider how to monitor new coronavirus outbreaks while reopening their societies, many are starting to bet on smartphone apps to help stanch the pandemic. But their decisions on which technologies to use — and how far those allow authorities to peer into private lives — are highlighting some uncomfortable trade-offs between protecting privacy and public health.
The stock market shook off a weak start and ended with modest gains Monday, thanks to another solid showing from big technology companies.
