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.
Stocks are swinging back down in early trading Wednesday after more signs piled up showing just how severely the coronavirus outbreak is damaging the economy.
Elizabeth Warren endorsed Joe Biden on Wednesday, becoming the last of the former vice president's major Democratic presidential rivals to formally back him.
President Donald Trump said Tuesday that he was cutting off U.S. payments to the World Health Organization during the coronavirus pandemic, accusing the organization of failing to do enough to stop the virus from spreading when it first surfaced in China.
Part of the stimulus package to aid small businesses, the Paycheck Protection Program has hit a bottleneck, according to Brock Blake, CEO of
Tatyana Popkova, chief strategy officer for the health system, talked to Cheddar about how the innovative medical center was designed to take on challenges such as a patient surge from a pandemic.
Stocks are ending with solid gains on Wall Street Tuesday as the market turns its attention to how and when authorities may begin to lift business shutdowns and limits on people's movements imposed to slow the spread of the coronavirus.
Former President Barack Obama endorsed his Vice President Joe Biden, the presumptive Democratic nominee, for president Tuesday.
Kay Sears, VP and GM of Military Space for Lockheed Martin described the final frontier as a "warfighting realm," to Cheddar at Satellite 2020.
President Donald Trump is asserting that he is the ultimate decision-maker on how and when to relax the social distancing guidelines put in place to fight the new coronavirus.
Fintech companies have long touted their ability to bank the unbanked, but the coronavirus pandemic is giving them a chance to put their money where their mouths are.
