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.
Capitol Police Chief Tom Manger said the false alarm "may have been a bogus call" but that law enforcement agencies are ready to stop any attempt to disrupt the court case of former President Donald Trump, who was indicted Tuesday on charges of trying to overthrow the 2020 election.
The federal judge assigned to the election fraud case against former President Donald Trump has stood out as one of the toughest punishers of rioters who stormed the U.S. Capitol in an attack fueled by Trump's baseless claims of a stolen election. She has also ruled against him before.
