President Trump’s steel and aluminum tariffs may not result in the intended boom for the U.S. steel industry.
“If the automakers are using less metal, they’re selling less product because of these tariffs, eventually I think it’s going to hurt steel stocks,” said Patrick Sanders, Assistant Managing Editor at U.S. News & World Report.
He pointed out that Bank of America has already downgraded U.S. Steel in light of Trump’s announcement.
The tariffs could also hit employment numbers, said Sanders.
“The last time that we had steel tariffs was in 2003. About 200,000 people lost their jobs. A lot of those were in the auto industry.”
On Thursday, Trump stated he’d slap a 25 percent tax on steel imports and a 10 percent tarriff on aluminum imported into the U.S.
Trump claimed the policy would benefit American industrials, tweeting, “We must protect our country and our workers. Our steel industry is in bad shape.”
3M said it will pay $6 billion to settle lawsuits claiming that it sold defective earplugs to the U.S. military.
Meta said it disrupted a campaign of disinformation linked to Chinese law enforcement.
Buying your first home can be challenging with rising interest rates and other costs. Cheddar News spoke with Amira Elgoneimy, a premiere agent with Redfin who caters to the New Brunswick, NJ area, and Daryl Fairweather, chief economist with Redfin, about the process involved in purchasing a residence in a competitive market.
Experts from Redfin real estate brokerage explain the challenges buyers are experiencing as they try to buy their first homes.
The Biden administration is targeting the blood thinner Eliquis, diabetes treatment Jardiance and eight other medications for Medicare's first-ever drug price negotiations as it seeks to lower medical costs for Americans.
Disney's visual effects workers filed to unionize, according to Variety.
Bath & Body Works is looking to hire thousands of workers for the holiday season.
Elon Musk shared a video of himself testing Tesla's full self-driving software.
Chipotle will pay over $322,000 to Washington, DC after an investigation revealed over 800 alleged child labor violations over the past three years.
Amazon is raising the minimum amount non-Prime members need to spend to qualify for free shipping.
