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 inching higher on Wall Street Monday in more volatile trading as investors try to assess whether global authorities can do enough to nurse the economy through the damage caused by the coronavirus outbreak.
Bracing the nation for a coronavirus death toll that could exceed 100,000 people, President Donald Trump extended restrictive social distancing guidelines through April, bowing to public health experts who presented him with even more dire projections for the expanding coronavirus pandemic.
Trump said that the order will “require General Motors to accept, perform, and prioritize Federal contracts for ventilators." In a statement, he said the contracting process with the automaker was not moving quickly enough.
President Donald Trump has signed an unprecedented $2.2 trillion economic rescue package into law, after swift and near-unanimous action by Congress this week.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Stocks are moving lower on Wall Street as the market gives back some of the gains it piled up over the past three days. Major indexes are down more than 2% in afternoon trading Friday.
Restaurants are getting creative with private solutions as they hope to continue doing business, even while most of them are physically closed to the public, but the potential for saving most of these businesses may be a long shot.
Healthcare workers have launched their own campaigns for gathering personal protective equipment as they fight the coronavirus on the frontlines, with #GetUsPPE trending across social media.
The House of Representatives overwhelmingly passed the $2.2 trillion coronavirus aid package Friday afternoon, but what was expected to be a smooth confirmation process devolved into a mad dash in the Capitol after one of the House’s own threatened to derail the vote with a procedural objection.
Despite President Donald Trump’s call to put the economy back to work by Easter, one Johns Hopkins physician says there may have to be “variability” in when states and cities restart their economies.
