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.
NASA and SpaceX have chosen May 27 for resuming astronaut launches from the U.S. after nine years. NASA Administrator Jim Bridenstine announced the launch date Friday.
Democratic Congressmen Tim Ryan of Ohio and Ro Khanna of California introduced legislation this week that would pay all qualifying Americans aged 16 or older $2,000 every month.
In an interview on Cheddar’s Closing Bell, the California Republican pointed to China as a major contributor to the woes the world has experienced during the outbreak.
Rep. Mikie Sherrill, along with a bipartisan Congressional delegation from both New Jersey and New York, is calling on the federal government to increase coronavirus aid to the hardest hit areas of the country due to the pandemic.
Danielle Allen, director of the center, told Cheddar that ending quarantine will require a robust social effort involving potentially thousands of workers and brand new technology solutions.
Stocks are rising at the opening of trading on Wall Street Friday as investors rallied around signs that more governments are planning phased re-openings of their economies.
President Donald Trump gave governors a road map Thursday for recovering from the economic pain of the coronavirus pandemic, laying out “a phased and deliberate approach” to restoring normal activity in places that have strong testing and are seeing a decrease in COVID-19 cases.
Seven Midwestern governors announced Thursday that they will coordinate on reopening their state economies, after similar pacts were made earlier this week in the Northeast and on the West Coast.
Stock indexes ended a wobbly day with modest gains Thursday, while the biggest increases went to Amazon, Netflix and other companies poised to do the best during the coronavirus crunch.
The government’s paycheck protection loan program for small businesses is on hold. The Small Business Administration has announced that it reached the $349 billion lending limit for the program.
