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 Israel-Hamas war is now in its fifth day with Israeli officials saying at least 1200 people have been killed in the country, including 150 soldiers. President Joe Biden has confirmed at least 14 Americans are among the dead.
Negotiations started on the Biden administration's latest attempt at student loan forgiveness after the Supreme Court blocked Biden's attempt to use the 2003 Heroes Act to advance student loan forgiveness.
New York Congressman George Santos is now accused of stealing the identities of his political donors, according to a new 23-count indictment that prosecutors filed Tuesday.
A new indictment filed Tuesday charges U.S. Rep. George Santos with stealing the identities of donors to his campaign and then using their credit cards to ring up tens of thousands of dollars in unauthorized charges.
President Joe Biden on Tuesday condemned the militant group Hamas for “sheer evil” for its shocking multipronged attack on Israel launched from the Gaza Strip that has killed hundreds of civilians, including at least 14 American citizens.
More Californians with untreated mental illness and addiction issues could be detained against their will and forced into treatment under a new law signed by Gov. Gavin Newsom, a move to help overhaul the state's mental health system and address its growing homelessness crisis.
