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.
Water infrastructure across the country is vulnerable as climate change makes storms more unpredictable and destructive, flooding low-lying drinking water treatment plants and overwhelming coastal sewage systems.
Iran has transferred five Iranian-Americans from prison to house arrest in exchange for billions of dollars frozen in South Korea, U.S. and Iranian officials said Thursday, in a deal that comes after months of heightened tensions between the two countries.
