- Pres. Trump tells reporters in the Oval Office that he will not back down on tariffs, responding to mounting criticism from House Speaker Ryan and congressional Republicans over tariffs on imported steel and aluminum.
- Republicans are maneuvering to stop the tariffs, arguing the move runs counter to the core of their economic agenda and could even cause political problems heading into the 2018 midterms, the Washington Post reports.
- Congressional leaders have not ruled out potential action if Trump follows through on his tariff plans, according to the report.
- “We are extremely worried about the consequences of a trade war and are urging the White House to not advance with this plan,” says a spokesperson for the Speaker. “The new tax reform law has boosted the economy and we certainly don’t want to jeopardize those gains.”
- Big steel companies are mostly lower in today's trade: X -1.1%, AKS -1.7%, NUE +0.4%, CLF -1.3%, STLD -1.1%, AA +0.6%, CENX -4%.
- ETFs: SLX, JJU, FOIL
- Now read: John And Jane - February Dividend Income Tracker - Taxable Account
Original article