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 U.S. and Canada have agreed to temporarily close their shared border to nonessential travel. President Donald Trump made that announcement Wednesday on Twitter as the two nations work to stem the spread of the coronavirus pandemic.
Despite the impact of the COVID-19 outbreak on the airline industry, even as momentum for an enormous bailout package builds in the White House and on Capitol Hill, ia growing backlash has been sparked among Democratic lawmakers, consumer advocates, and antitrust experts.
Senator Cory Gardner (R-Colo.) told Cheddar’s J.D. Durkin on Tuesday,“[An airline bailout] is going to have to be a part of this immediate package
Stocks are closing solidly higher after President Donald Trump promised he's “going big” with plans to blunt the economic pain caused by the coronavirus outbreak.
New York City Mayor Bill de Blasio said Tuesday that New Yorkers should prepare for the possibility of a “shelter-in-place” order within the next 48 hours.
Stocks are adding sharply to their gains on Wall Street after President Donald Trump and his team announced more measures to combat the coronavirus outbreak.
Stacey Cunningham, president of the New York Stock Exchange, told Cheddar on Tuesday that the markets remaining open is important during the COVID-19 pandemic.
The White House announced major moves in coordination with the Federal Reserve to mitigate economic damage from the coronavirus pandemic which has brought some industries to a near halt.
Andrew Cuomo said this morning that the expected peak of infection is 45 days out, based on a hospitalization rate of between 15 to 19 percent.
These are the headlines you Need 2 Know for Tuesday, March 17, 2020.
