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.
President Joe Biden is arriving in Israel for a lightning round of diplomatic efforts.
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The IRS plans to invite select taxpayers across 13 states to try out the agency's pilot electronic free file tax return system beginning in January.
Russian President Vladimir Putin arrived in Beijing, underscoring China's continued support of Moscow amid Russia's ongoing war in Ukraine.
The Justice Department is appealing the prison sentence of the lengths of four Proud Boys leaders who were convicted in the January 6th Capitol attack.
Supreme Court Justice Amy Coney Barrett endorsed the idea that the court adopt a formal code of conduct.
The Supreme Court ruled it would allow the Biden administration to regulate so-called ghost guns, or those untraceable homemade weapons, and also barred two Texas-based manufacturers from selling products that can be turned into ghost guns.
The Commerce Department on Tuesday updated and broadened its export controls to stop China from acquiring advanced computer chips and the equipment to manufacture them.
And in a surprise move, President Joe Biden has joined former President Trump's Truth social platform.
The Supreme Court ruled it would allow the Biden administration to regulate so-called ghost guns, or those untraceable homemade weapons, and also barred two Texas-based manufacturers from selling products that can be turned into ghost guns.
