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.
North Korean leader Kim Jong Un vowed support for Russia’s “sacred fight” during a summit with President Vladimir Putin that the U.S. warned could lead to a deal to supply ammunition for Moscow’s war in Ukraine.
Child poverty in the United States more than doubled and median household income declined last year when coronavirus pandemic-era government benefits expired and inflation kept rising, according to figures released Tuesday by the U.S. Census Bureau.
Speaker Kevin McCarthy said Tuesday he is directing a House committee to open an impeachment inquiry into President Joe Biden over his family's business dealings, launching historic proceedings ahead of the 2024 election.
The Biden administration issued a waiver to allow banks to transfer $6 billion in frozen Iranian oil funds without facing U.S. sanctions, a key step in a prisoner swap deal.
Attorneys for former President Donald Trump requested that the judge presiding over the federal case involving attempts to overturn the 2020 election be reassigned.
