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.
Schools, shops, banks and Iceland's famous swimming pools shut on Tuesday as women in the volcanic island nation — including the prime minister — went on strike to push for an end to unequal pay and gender-based violence.
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Jenna Ellis, an attorney and prominent conservative media figure, reached a deal with prosecutors Tuesday and pleaded guilty to a reduced charge over efforts to overturn Donald Trump’s 2020 election loss in Georgia.
