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.
More than 6.6 million people applied for unemployment benefits last week, according to new data from the Department of Labor.
Stocks are rising in early trading on Wall Street after the Federal Reserve launched its latest unprecedented effort to support the economy through the coronavirus outbreak.
The Centers for Disease Control and Prevention has new guidance for essential workers as it takes a small step toward reopening the country.
By Wednesday, day four of the program, some $80 billion of the $350 billion promised to small businesses in relief loans had been processed. But few lenders, if any, have begun funding any loans, meaning it could still be weeks before businesses receive the relief they desperately need right now.
Stocks are up 3% on Wall Street as investors focus on the optimistic side of data about the coronavirus outbreak’s trajectory.
New Jersey Governor Phil Murphy Wednesday announced an executive order expanding the scope of the state's coronavirus restrictions.
New York Governor Andrew Cuomo announced Wednesday that 779 people in the state have died in a single day, marking another solemn milestone as the state fights to slow down the devastation of COVID-19.
Entrepreneur, NBA owner, and Shark Tank investor Mark Cuban told Cheddar on Wednesday that the coronavirus pandemic could signal a shift in the U.S. economy toward workers.
Bernie Sanders, who saw his once strong lead in the Democratic primary evaporate as the party’s establishment lined swiftly up behind rival Joe Biden, has ended his presidential bid.
California Governor Gavin Newsom said the Golden State had managed to secure a monthly supply of 200 million N95 respiratory and surgical masks, opening up the possibility of helping other states struggling to secure protective supplies.
