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 Republican-led Michigan House has refused to extend the state’s coronavirus emergency declaration. It also voted Thursday to authorize a lawsuit challenging Democratic Gov. Gretchen Whitmer’s authority and actions to combat the pandemic. The step came as hundreds of conservative activists returned to the Capitol to denounce Whitmer’s stay-at-home measure.
A crush of dismal data about the economy helped send markets lower Thursday, a meek ending to a historic, juggernaut month for stocks.
A shortage of personal protective equipment is a critical problem for frontline medical workers and one of the toughest issues the organization is facing, said Thomas Tighe, CEO of Direct Relief.
NYC Mayor Bill de Blasio, in partnership with the City Council, announced his commitment to closing off up to 100 miles of streets to make more space for city dwellers during the coronavirus pandemic.
Morgan Ortagus, a State Department spokesperson, said the purpose of demanding more information and access from China was to "answer fundamental questions" about the COVID-19 pandemic.
The Federal Reserve says it is expanding a major lending program to provide support for businesses struggling to cope with the economic slowdown caused by the coronavirus pandemic.
Sarah Cooper, the performer behind the viral video, talked to Cheddar Wednesday about why she chose to riff on the POTUS.
Stocks charged higher around the world Wednesday following an encouraging report on a possible treatment for COVID-19.
The Federal Reserve says it will keep its key short-term interest rate near zero for the foreseeable future as part of its extraordinary efforts to bolster an economy that is sinking into its worst crisis since the 1930s.
The National Institute of Allergy and Infectious Diseases (NIAID) on Wednesday announced the results of a study looking into a potential COVID-19 treatment that it says shows promise.
