Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Steelworkers"


25 mentions found


President-elect Donald Trump said Monday that he would block a Japanese company’s $15 billion bid to acquire U.S. Steel, a contentious deal that faces widespread political opposition. “I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan,” Trump said in a late-night post on his Truth Social platform. A senior Nippon Steel executive told reporters last month that the company hoped to close the deal before Trump returns to the White House in January. The deal is also opposed by the powerful United Steelworkers union, though some other U.S. Steel employees support it. Trump said he would find a way to preserve U.S. Steel as it is.
Persons: Donald Trump, ” Trump, Joe Biden, Kamala Harris, Trump Organizations: U.S . Steel, Nippon Steel, Nippon Steel of, Trump’s Democratic, White, United Steelworkers, . Steel, ” Nippon Steel, U.S, Steel, Biden, Foreign Investment Locations: Nippon Steel of Japan, Pittsburgh, American, Japan, U.S, China, United States
U.S. President-elect Donald Trump has pledged to block Japanese company Nippon Steel's planned purchase of U.S. Steel. Nippon Steel, the fourth largest global steelmaker, reached an agreement to acquire U.S. Steel last December. U.S. Steel has an annual production capacity of around 20 million metric tons, while Nippon Steel is the leading steel producer in Japan. Nippon Steel and U.S. Steel did not immediately respond to CNBC's requests for comment on Trump's latest remarks. A spokesperson for Nippon Steel previously said the acquisition would revitalize the American Rust Belt and enhance U.S. national security "in a way no alternative can."
Persons: Donald Trump, Trump, Joe Biden, Takahiro Mori, David Burritt Organizations: Nippon, U.S . Steel, Nippon Steel of, U.S, Steel, Nippon Steel, United Steelworkers, Foreign Investment, Nippon Steel's, Trump, . Steel Locations: Nippon Steel of Japan, American, Japan, LSEG
TOKYO — Lawmakers in Japan voted Monday to retain the embattled Shigeru Ishiba as prime minister despite his long-governing party’s dismal showing in parliamentary elections last month. Ishiba, a straight-talking former defense minister, received 221 votes compared with 160 for Yoshihiko Noda, leader of the opposition Constitutional Democratic Party. Many Japanese officials assume Trump is going to be “more straightforwardly anti-China,” and that Japan will be “somehow miraculously left off the hook,” he said. Though Japan has already pledged to double defense spending to 2% of gross domestic product by 2027, “that’s probably not going to be enough to satisfy Trump,” Boling said. While Abe was “extraordinarily skillful” in dealing with Trump, Ishiba has a different personality, Boling said.
Persons: Shigeru Ishiba, Ishiba, Donald Trump, Yoshihiko Noda, ” Ishiba, Yuichi Yamazaki, Trump, Koichi Nakano, Shinzo Abe, ” Nakano, David Boling, “ that’s, ” Boling, Joe Biden, Kamala Harris, Takahiro Mori, Abe, Boling, , I’m, Jeff Kingston, ” Kingston, Arata Yamamoto, Jennifer Jett, Peter Guo Organizations: Lawmakers, Liberal Democratic Party, Constitutional Democratic Party, Getty, Trump, Japan Relations, NBC News, U.S, Eurasia Group, Nippon, Pittsburgh, . Steel, Democratic, Nippon Steel, United Steelworkers, , Japan Locations: TOKYO, Japan, Washington, Tokyo, China, Russia, North Korea, U.S, York, Japanese, Pittsburgh, ” Japan, United States, Temple, Hong Kong
For their working-class, historically Black neighborhood, it was a lifeline to the outside world, a source of both pride and convenience. She doesn’t want to leave Turner Station, where her grandparents put down roots many decades ago. The federal government provided nearby housing only for white workers, so Black families started their own community in nearby Turner Station. He said Turner Station residents have expressed concern about potential damage to buildings from the seismic impact of the collapse. Meanwhile, Turner Station residents will be doing what they’ve done for generations: coming together and fighting for their community.
Persons: Baltimore’s Francis Scott Key, Minor, she’s, ruefully, , Courtney Speed, shouldn’t, “ We’ve, Turner, Speed’s Barber, , ” Henrietta, Johns Hopkins, Robert Curbeam, Kweisi Mfume, Calvin Hill, “ It’s, Mfume, he’s, ” Mfume, Marquis Neal, Linwood Jackson, Jackson, ” Vernon Banks, There’s Gloria Nelson, there’s, Rashad Singletary, ” Singletary, God, He’s, nodded Organizations: Turner, Black steelworkers Turner, Black steelworkers, Bethlehem Steel, Turner Station, NASA, . Rep, NAACP, NFL, Democrat, ” Residents, football, Mount, Mount Olive Baptist Church Locations: Black, Turner, Baltimore’s, Baltimore, Southern, Congress, Baltimore County, Vietnam, Bethlehem, Avondale, Mount Olive
Pittsburgh CNN —In the years that Pennsylvania Senate candidate Dave McCormick led one of the world’s largest hedge funds, the firm bet millions of dollars against some of the state’s biggest and most iconic companies, financial filings show. For financial institutions, short positions can be lucrative. The fund shorted about four dozen companies from Pennsylvania during McCormick’s tenure, the records show. The fund did invest in stocks of some of the same Pennsylvania companies it shorted in other years, and overall, it reported spending more money buying stocks of Pennsylvania companies than shorting them in four of the five annual reports reviewed by CNN. She argued that the short positions Bridgewater took in Pennsylvania companies didn’t negatively impact employees because they represented a small fraction of each company’s overall value.
Persons: Dave McCormick, McCormick, , , Kevin Boltz, Democratic Sen, Bob Casey –, Casey, Luke Sharrett, Elizabeth Gregory, Dave, ” Gregory, Bridgewater, ” McCormick wasn’t, Andrew Jennings, Dan Mallinson, “ They’re, ” Mallinson, “ That’s, ” Eric Talley, Talley, I’m, Justin Merriman, McCormick’s, Biden, Bernie Hall, ” Hall, Gregory, Michael M, Eric Hovde of, Tim Sheehy, Bernie Moreno, dogging McCormick, Mallinson Organizations: Pittsburgh CNN —, Bridgewater Associates, The Hershey Company, US Steel, CNN, US Department of Labor, Republican, Hershey, Democratic, Bridgewater, Bloomberg, Getty, McCormick’s, Bridgewater Equity Fund, Labor, Securities and Exchange Commission, Comcast, Penn National Gaming, Emory University School of Law, Penn State, Columbia University, Steel, Japan's, Nippon Steel, Keystone, Nippon, Pennsylvania, United Steelworkers, Senate, Penn Locations: Pennsylvania, Bridgewater, Harrisburg, Pittsburgh, China, Eric Hovde of Wisconsin, Montana, Ohio
But the strike could pose several issues for Vice President Harris in her presidential campaign. AdvertisementThere's a labor storm a-brewing off the East Coast — but don't expect to see President Joe Biden stepping in anytime soon. MATTHEW HATCHER/AFP via Getty ImagesThe strike throws another wrench into the 2024 raceThe strike has the potential to further upend what has already been a dizzying presidential race. Vice President Kamala Harris is now carrying the banner of the Biden administration's pro-union policies as the Democratic presidential nominee. But Harris' union ties are not as deep as those enjoyed by Biden.
Persons: Joe Biden, Harris, , dockworkers, it's, Biden, Taft, George W, Bush, Hartley, Cathy Creighton, Creighton, Hamilton Nolan, Nolan, USMX, Hurricane Helene, Independent Sen, Bernie Sanders of, Kamala Harris, Donald Trump, MATTHEW HATCHER, Trump, they're Organizations: Service, Gulf Coasts, International Longshoremen's Association, US Maritime Alliance, Workers, Cornell University's Industrial, Labor Relations Buffalo Co, Labor, ILA, , Independent, Getty, Biden, Democratic, Teamsters, Trump, AFL, United Auto Workers, United Steelworkers, Republicans, Republican Party Locations: East Coast, Gulf of Mexico, East, West Coast, Taft, Hurricane, Bernie Sanders of Vermont, Michigan , Nevada, Pennsylvania
President Joe Biden, Republican presidential nominee Donald Trump and Democratic nominee Vice President Kamala Harris have all voiced opposition to the deal. The United Steelworkers union, which has endorsed Harris for president, has also been a leading opponent of the acquisition. Earlier this month, US Steel said it would be forced to lay off workers and shutter mills without Nippon’s backing. US Steel put itself up for sale in 2023 after receiving an unsolicited $7 billion takeover offer from Ohio-based Cleveland Cliffs. The $14.9 billion deal with Nippon Steel, Japan’s largest steelmaker, resulted from that sale process.
Persons: Joe Biden, Donald Trump, Kamala Harris, Sen, Sherrod Brown of, John Fetterman of, Harris, Fumio Kishida, Janet Yellen Organizations: CNN — Nippon Steel, US Steel, CNN, Republican, Democratic, Foreign Investment, Steel, Sherrod Brown of Ohio, The United Steelworkers, Nippon Steel Locations: American, United States, Pittsburgh, Tokyo, John Fetterman of Pennsylvania, Ohio, Cleveland
In fact, the Biden administration recently imposed its own set of tariffs, while extending ones first levied during the Trump administration. Take the tariffs the Trump Administration imposed on washing machines in 2018. The washing machine tariffs were part of a broad new tariff regime Trump imposed in an effort to protect American workers from anti-competitive Chinese trade practices. It resulted in what is generally viewed as a “trade war” involving retaliatory tariffs imposed on American goods. The White House gave a rationale similar to the Trump administration when it announced its tariffs.
Persons: Kamala Harris, Donald Trump, Trump, ” Trump, ” Harris, Biden, Harris, , There’s, , ” Biden, Douglas Irwin, ” Irwin, ” Sen, Sherrod Brown, Sen, Tom Cotton, Nick Iacovella, , ” Iacovella, Davis Organizations: GOP, Democratic, Tax, Trump, Coalition for, Prosperous, White, American Enterprise Institute, Federal, “ Ohio steelworkers, “ Workers, Administration, U.S . Steel, Harvard University, University of California Locations: China, Prosperous America, U.S, Mexico, Ohio , New York, Ohio
TOKYO — U.S. opponents of a Japanese steelmaker’s $14.9 billion bid for U.S. Steel cite concerns about national security and a reluctance to relinquish a storied American company. That could complicate efforts to strengthen ties with Japan, a key U.S. ally, in an effort to counter China’s growing influence in the Asia-Pacific and around the world. Washington has also been pushing Tokyo to align itself with U.S. export controls that limit China’s ability to produce advanced semiconductors. The opposition to the deal “also places Japan in the unenviable company of China in terms of Washington’s politicization of economic issues,” Kingston said in an email. Other U.S. Steel employees have rallied in support of the deal, which was announced last December.
Persons: Joe Biden, Jeff Kingston, , ” Kingston, Donald Trump, Kamala Harris Organizations: U.S, Steel, Nippon Steel, NBC, Temple University Japan, Rust Belt, Biden, U.S . Steel, The United Steelworkers Locations: TOKYO, U.S, American, Japan, Asia, Pacific, Washington, Tokyo, China, Pennsylvania
New York CNN —US Steel is threatening to shutter a number of mills if the Biden administration blocks its sale to would-be Japanese buyer Nippon Steel. But another rival, Cleveland Cliffs, is offering to buy those mills from US Steel if President Joe Biden stops the deal. But those objections could be lessened if the alternative to Cleveland Cliffs buying the mills was their closure. Cleveland Cliffs said it has the financing in place to buy the threatened intergrated steel mills, which make steel from raw materials. Cleveland Cliffs CEO Lourenco Goncalves praised those reported plans to block the deal, even though they are not yet confirmed.
Persons: Biden, Joe Biden, Kamala Harris, Donald Trump, J.D, Lourenco Goncalves, , ” Goncalves, Organizations: New, New York CNN, Nippon Steel, Steel, United Steelworkers, Nippon, CNN, Cleveland Cliffs, US Steel, United, Commonwealth Locations: New York, Cleveland, Vance, Pittsburgh, United States, Pennsylvania
A water tower at the United States Steel Corp. Edgar Thomson Works steel mill in Braddock, Pennsylvania, US, on Wednesday, Sept. 4, 2024. WEST MIFFLIN, Pa. — It's one the few things Vice President Kamala Harris and former President Donald Trump agree on: opposing the sale of U.S. Steel to the Japanese company Nippon Steel . "I'm pissed," said Chris Kelly, the mayor of West Mifflin, a small town near Pittsburgh. Kelly, a Democrat, said he was initially skeptical of Nippon buying U.S. Steel, which operates plants in West Mifflin and surrounding communities known as the Mon Valley. "I couldn't agree more with President Biden," she said.
Persons: Edgar, Kamala Harris, Donald Trump, they're, Chris Kelly, everybody's, Kelly, — Kelly, I've, Joe Biden, United States hasn't, Biden —, Biden, Harris Organizations: United States Steel Corp, Edgar Thomson Works, WEST MIFFLIN, Steel, Nippon Steel, steelworkers, West, Nippon, U.S . Steel, NBC News, The Washington Post, White, Foreign Investment, America steelworkers Locations: Braddock , Pennsylvania, Pa, U.S, Pennsylvania, West Mifflin, Pittsburgh, Mon, United States
US Steel and Nippon Steel both indicated in statements that they’re open to legal fights to get the deal approved, no matter what actions is announced by Biden. Shares of US Steel (X) closed down 17.5% on the news at $29.37, well below the $55 a share that Nippon Steel agreed to pay for the stock back in December when the deal was announced. US Steel said the future of this and other union-represented plants at the company are at risk unless it gets approval to be purchased by Nippon Steel. US Steel says it has more than 3,000 employees in the state in its remaining steel mills along the Monongahela River just outside of Pittsburgh. The union says it doesn’t believe in the promises made by Nippon Steel so far and that it remains opposed to the purchase.
Persons: Joe Biden, Biden, , Biden’s, Kamala Harris, Donald Trump, JD Vance, Harris, David Burritt’s “, Gene J, Philip Gibbs, ” Gibbs, , Gibbs, “ You’re, you’re, CFIUS, Michael Leiter, Skadden’s CFIUS, ” – CNN’s Matt Egan Organizations: Washington DC CNN, Nippon, US Steel, White, Foreign Investment, White House, Treasury, Steel, Nippon Steel, “ Nippon Steel, Washington Post, Labor, United Steelworkers, Justice, KeyBanc, CNN, steelworkers, “ Nippon, National Security Locations: United States, Japan, American, Pittsburgh, shoring, Gary , Indiana, , Clairton , Pennsylvania, Pennsylvania, Monongahela, America
AdvertisementAccording to The Washington Post, top union leaders have privately expressed concerns about Biden's ability to beat Trump in November. AdvertisementLosing support from laborAccording to Politico's Jonathan Martin, support from the unions is likely Biden's only path to survival against Trump. The AFL-CIO told the Associated Press on Thursday that Biden's "fighting spirit" was on full display during his meeting with union leaders this week. He "wasn't even the Joe Biden of 2020," said Clooney. AdvertisementIf union leaders join the chorus of voices asking Biden to step down, other key supporters may quickly follow.
Persons: , Joe Biden, Biden, Sara Nelson, Shawn Fain, Biden's, David McCall, Politico's Jonathan Martin, Anita Dunn, Sen, Peter Welch of, George Clooney, wasn't, Clooney, Chuck Schumer, Axios, Nancy Pelosi Organizations: Service, NATO —, AFL, America's, Business, The Washington Post, Trump, Association of Flight, United Auto Workers, The Association of Flight, Democratic, United Steelworkers International, Politico, Blacks, Associated Press, CBS, The New York Times Locations: Peter Welch of Vermont
Our host, Jennifer Harris, gave a speech about how economic ideas change to meet the needs of a new era. In a room full of V.I.P.s, she was the Queen Bee. I was thrilled when the Biden administration came in with a plan for big federal investments in the American industrial base, tariffs, support for labor unions and actions against monopolies. To understand who Ms. Harris is, you have to know who she used to be. For years, she felt like an oddball in Washington, where both parties were still in thrall to neoliberalism.
Persons: I’ve, Jennifer Harris, Queen Bee, I’d, Harris, Trump, , Biden, thrall Organizations: Biden, steelworkers, Department Locations: San Francisco Bay, Washington, Indiana, Mexico, China, United States
Washington CNN —President Joe Biden is increasing tariffs on $18 billion in Chinese imports across a handful of sectors deemed strategic to national security – an attempt to cripple Beijing’s development of critical technologies and instead prioritize US production. The increases will apply to imported steel and aluminum, legacy semiconductors, electric vehicles, battery components, critical minerals, solar cells, cranes and medical products. That same trade law also requires the effectiveness of such tariff programs to be evaluated every four years, and the Biden administration decision is the result of that study. “China can’t be the only country that produces clean technology for the world we need,” a senior administration official said. The Chinese government, Biden argued, is providing state money to Chinese steel companies to make more steel than the economy demands, pushing down the price and making it impossible for other companies to compete.
Persons: Joe Biden, , , Lael Brainard, “ China’s, Donald Trump, Biden, Wang Wenbin, Trump, Janet Yellen, Antony Blinken, “ They’re, ” Biden, Sam Fossum Organizations: Washington CNN, White, National Economic Council, CNN, Biden, Trade Organization, Brookings Institute, United Steelworkers, Trump, China’s Ministry, Commerce Locations: China, Beijing, Europe, Brazil, Turkey, Pittsburgh, Midwest
CNN —As US supply chains decouple from China, Mexico’s manufacturing sector is emerging as a winner. Ramos said Mexico and China have been competing for the US manufacturing market for years, but amid a shifting US-China relationship, Mexico looks poised to pull ahead. Those exports were driven by manufacturing, which comprises 40% of Mexico’s economy, according to Morgan Stanley. Meanwhile, Chinese exports to the US were down 20% in 2023, compared to 2022. Analysts at Morgan Stanley see the value of Mexico’s exports to the United States growing from $455 billion to about $609 billion in the next five years.
Persons: That’s, nearshoring, Alberto Ramos, Goldman Sachs, Ramos, Morgan Stanley, Katherine Tai, CNN’s Julia Chatterley, Tai, United States Jose Luis Gonzalez, Xeneta, Peter Sand, Jose Enrique Sevilla, John Raines, Goldman’s Ramos, Biden, Raquel Buenrostro, , Joe Biden, Donald Trump, Trump, , Global’s, Raines, Christoffer Enemaerke, , Tesla, Elon Musk, Julio Cesar Aguilar, BYD doesn’t, RBC’s Enemaerke, Michael Nam Organizations: CNN, Manufacturing, Commerce Department, US Trade, General Motors, Ford, Reuters, Shipping, Container Trade, Xeneta, Moody’s Analytics, P Global Market Intelligence, steelworkers, , Global’s Sevilla, Macip, RBC, Getty, BYD, ” Sevilla, Monterrey Locations: China, Mexico, Canada, North America, US, Ciudad Juarez, United States, Pittsburgh, Mexican, Monterrey, , Nuevo Leon, Asia
Read previewPresident Joe Biden on Wednesday pitched his version of US-China relations to steelworkers in Pennsylvania — that Beijing isn't only failing to catch up, but struggling on its own. "They've got a population that is more people in retirement than working," Biden said of China. Those were some of the harshest comments Biden has ever made about China, though it's unclear how the president calculated his retirement figures. Instead of posturing himself a Mr. Fix-It, or a lone warrior fighting the good fight against a strong Beijing, Biden on Wednesday told blue-collar workers that the competition, as it stands, already favors America by a landslide. AdvertisementThe metals industry provides more than 120,000 jobs in Pennsylvania and some $33 billion in economic output, per an April 2023 report published by the Pennsylvania Steel Alliance.
Persons: , Joe Biden, They've, Biden, Donald Trump, Trump, I've, China's, Biden shied Organizations: Service, Wednesday, steelworkers, US Steelworkers, Business, Republican, US Steel, Japanese Nippon Steel, American, Pennsylvania Steel Alliance . Pennsylvania Locations: China, Pennsylvania —, Beijing, Pittsburgh, Washington, America, Pennsylvania
CNN —President Joe Biden called on his administration to ratchet up pressure on the Chinese steel industry as he brings his economic competition pitch to Pittsburgh, the heart of the American steel industry, on Wednesday, part of a three-day campaign trail swing through battleground Pennsylvania. The trip comes after Biden last month publicly opposed a controversial $14 billion deal for Japan’s Nippon Steel to purchase US Steel. President Biden will not impose ineffective, across-the-board tariffs that would increase costs and harm hundreds of thousands of jobs,” the official said. The United Steelworkers, a key union representing workers in the steel industry, endorsed Biden’s reelection campaign last month. Trump made tariffs against China a central feature of his global economic strategy, and Biden has largely maintained them, despite external criticism.
Persons: Joe Biden, ” Biden, Biden, Donald Trump, Katherine Tai, , Tai, Lael Brainard, ” Brainard, “ They’re, ” , , Biden’s, he’s, Trump, Xi Jinping, Lloyd Austin, CNN’s Chris Isidore, Arlette Saenz, Kevin Liptak Organizations: CNN, United Steelworkers, United States Trade, National Economic, of, Japan’s Nippon Steel, US Steel . US Steel, Justice Department, Foreign Investment, US Steel, , American, steelworkers, Biden, Trump Locations: Pittsburgh, Pennsylvania, China, America, Scranton, Philadelphia, New York City, United States, American
President Biden on Wednesday will call on his trade representative to more than triple some tariffs on steel and aluminum products from China, as part of a series of moves meant to help cushion American manufacturers from a surge of low-cost imports. Speaking to the United Steelworkers Union in Pittsburgh, Mr. Biden will ask the U.S. trade representative, Katherine Tai, to increase tariffs to 25 percent on certain Chinese products that currently face tariffs of 7.5 percent — or no tariffs at all — U.S. officials said. Mr. Biden will also announce a new trade representative investigation into China’s aggressive support for shipbuilders and other related industries, in response to a union complaint. And he will announce new initiatives to work with Mexican officials to block China from evading American steel tariffs by routing its exports through Mexico. The moves represent an escalating effort by Mr. Biden and his aides to stop a flood of low-cost Chinese exports from undermining made-in-America products — and jeopardizing a central focus of Mr. Biden’s economic agenda.
Persons: Biden, Katherine Tai, Mr Organizations: United Steelworkers Union, U.S Locations: China, Pittsburgh, U.S, Mexico, America
President Joe Biden is calling on the U.S. Trade Representative to triple the China tariff rate on steel and aluminum imports as he makes the rounds in the key battleground state of Pennsylvania. Biden's demand to raise the current 7.5% average tariff on steel and aluminum is an effort to make clear that his administration's recent warnings about China's trade practices are not empty threats. In an interview with CNBC's Sara Eisen, Yellen said that tariffs were not off the table if those overcapacity qualms went unaddressed. As China shrugs off the overcapacity concerns, the Biden administration is doubling down on what it perceives as the threat to global trade. "China's policy-driven overcapacity poses a serious risk to the future of the American steel and aluminum industry," National Economic Council Director Lael Brainard said on a call with reporters on Tuesday.
Persons: Joe Biden, Xi Jinping, Janet Yellen, CNBC's Sara Eisen, Yellen, China shrugs, Biden, Lael Brainard Organizations: Economic Cooperation, U.S . Trade, United Steelworkers, Economic Locations: Asia, San Francisco, China, Pennsylvania, Pittsburgh
President Joe Biden on Wednesday choked up as he blasted Donald Trump, saying the presumptive Republican presidential nominee "doesn't deserve to be the Commander-in-Chief for my son." "They asked him to go visit American grave sites. Because they were all suckers and losers," Biden said, citing the reports about Trump's rationale. That man doesn't deserve," Biden said, pausing for several seconds as he choked up before adding, "to be the Commander-in-Chief for my son." Beau Biden died in 2015, when his father was vice president in the administration of former President Barack Obama.
Persons: Joe Biden, Donald Trump, doesn't, Beau Biden —, Trump, Biden, Beau Biden, General's, Barack Obama, Trump's, John Kelly, Jeffrey Goldberg, Goldberg Organizations: Wednesday, Delaware Army National Guard, Democrat, United Steelworkers, General's Corp, National Guard, Guard, White House, CNN, U.S . Locations: Pittsburgh, Paris, Iraq, Aisne
Travelers — Shares fell nearly 5% after the insurance company reported an earnings and revenue miss for its first quarter. Revenue was $10.18 billion compared with the $10.51 billion expected. J.B. Hunt Transport Services — Shares sank 8% a day after the transportation and logistics company reported an earnings and revenue miss for its first quarter. ASML Holding — U.S.-listed shares sank 5% after the Dutch semiconductor company posted revenue and new bookings that came in below consensus estimates. Omnicom — The stock added nearly 3% a day after the communications company reported an earnings and revenue beat for its first quarter.
Persons: Eli Lilly, ResMed, Eli Lilly's, Zepbound, J.B, Hunt, Joe Biden, TD Cowen, Ferrari, Bernstein, , Dealbook, Kate Spade, Jesse Pound, Hakyung Kim, Sarah Min, Fred Imbert Organizations: LSEG, Revenue, Travelers, United Airlines, Hunt Transport, ASML, Urban, Jefferies, Autodesk, Alcoa, United Steelworkers, Ferrari, Abbott, Abbott Laboratories, New York Times, Federal Trade Commission Locations: J.B, China, Pittsburgh
President Biden on Wednesday called for major increases to some tariffs on steel and aluminum products from China, speaking to members of a national steelworkers union in Pittsburgh as he vies with former President Donald J. Trump for votes in Northern industrial states. “These are strategic and targeted actions that are going to protect American workers and ensure fair competition,” Mr. Biden told a crowd of about 100 union members at the United Steelworkers, which endorsed him last month. “Meanwhile, my predecessor and the MAGA Republicans want across-the-board tariffs on all imports, from all countries, that could badly hurt American consumers.”The Biden administration has argued that a flood of low-cost exports from China is undermining American-made products — jeopardizing Mr. Biden’s push to expand U.S. manufacturing, a central focus of his economic agenda. In his speech, Mr. Biden said he would ask the U.S. trade representative, Katherine Tai, to increase tariffs to what White House officials said would be 25 percent on certain Chinese products that now face tariffs of 7.5 percent, or none at all, pending the outcome of an administration review of the China tariffs initially imposed under Mr. Trump.
Persons: Biden, Donald J, Trump, ” Mr, MAGA, , Biden’s, Katherine Tai Organizations: steelworkers union, United Steelworkers, MAGA Republicans, White, Mr Locations: China, Pittsburgh, Northern, American, U.S
The tariffs Mr. Biden will propose raising on Wednesday were initially imposed by Mr. Trump when he was president. Mr. Biden’s stop in Pittsburgh is part of a three-day swing through Pennsylvania, a crucial battleground state that he narrowly won in 2020 and has visited more than any other. The president’s campaign is hoping to mobilize support from organized labor, a traditionally Democratic constituency from which Mr. Trump has pulled some support. On Tuesday, Mr. Biden spoke at the local union of the United Brotherhood of Carpenters and Joiners in Scranton, Pa., his hometown. “Donald Trump looks at the world differently than you and me,” Mr. Biden said in a speech that signaled his campaign’s intention to make the 2024 election a referendum on Mr. Trump.
Persons: Biden, Katherine Tai, Mr, ” Lael Brainard, Janet L, Yellen, , Lloyd J, Austin III, Biden’s, Donald J, ” Mr, Trump, “ Donald Trump, ” Alan Rappeport, Michael D, Shear Organizations: United Steelworkers Union, U.S, Economic Council, International Monetary Fund, Trump, CNBC, Mr, Democratic, United Brotherhood of Carpenters Locations: China, Pittsburgh, U.S, Mexico, America, Beijing, United States, Biden’s, Japan, Philippines, South China, Pennsylvania, Joiners, Scranton, Pa, Mar
In an unprecedented trial, Mr. Trump is spending most of this week, and much of the coming month or two, in a Manhattan courtroom facing criminal charges. In 2020, he narrowly defeated Mr. Trump in Pennsylvania by about 80,000 votes. “I went to school here, right?” Mr. Trump, a graduate of the Wharton School of the University of Pennsylvania, reminded his audience. They say it is imperative that Mr. Biden campaign in western Pennsylvania, as well as swing areas like Erie County, which Mr. Biden flipped in 2020. Mr. Trump said last week that he would not, reversing a position he held during his term in the White House.
Persons: Biden, Donald J, ” Michael Tyler, Trump, Mr, , Trump’s, Michael Gold Organizations: Trump, Biden, Affordable, Mr, Wharton School, University of Pennsylvania, Scranton, Pittsburgh, United Steelworkers . Unions, Democrats, U.S . Steel, steelworkers, Democratic National Committee, Democratic Locations: Pennsylvania, Scranton, Manhattan, Israel, Michigan, Wisconsin, Philadelphia, Erie County, Arizona, Schnecksville, Pa
Total: 25