Welcome back. And joining me now is Democratic Governor Wes Moore of Maryland. Governor Moore, welcome back to Meet the Press.>> Great to be with you again. >> It is great to have you. Thanks so much for being here.You just heard my conversation with Treasury Secretary Scott Bessant. He says the economy is stronger than this latest jobs report would suggest. And he echoed the president that Americans need to give this tariff policy time to work.What say you. I is that a fair argument. No, because I think pe ...

Fast Company Innovation Festival Ticket Giveaway—Enter now! LOGIN SUBSCRIBE | FastCo Works advertisement BYÂ Associated Press Listen to this ArticleMore info 0:00 / 0:00 U.S. employers added just 22,000 jobs last month as the labor market continued to cool under uncertainty over President Donald Trump's economic policies.The Labor Department said Friday that hiring decelerated from 79,000 in July and came in below the roughly 80,000 economists had expected for August. The unemployment rate ticked up to 4.3% ...

Last week, a judge ruled that most of President Donald Trump's tariffs are illegal, setting up a showdown in the Supreme Court. That leaves the future of Trump's trade wars once again up in the air. https://t.co/9dORBycTx5 ...

is day 201 of the second Trump administration and this week it finally happened. President Trump's tariffs went into effect on more than 60 nations around the world, pushing the average tariff rate to 18.6%. Now remember, Trump campaigned on making America great again.What he has done here is take America back to the 1930s, which is when we last saw tariffs this high. And there could be more to come on countries like China and India. Not to mention tariffs on semiconductors and pharmaceutical products.In a ...

Summary of Key Points from the Conference Call Industry Overview - The conference call focuses on the **Metals & Mining** industry, particularly the **Chinese steel production** and its implications on global markets [1][2][3]. Core Insights and Arguments - **Chinese Steel Production Cuts**: Chinese officials have mandated the closure of up to **50 million tonnes per annum (mtpa)** of steel capacity to address structural overcapacity issues, which is expected to support finished steel prices globally [1][2]. - **Impact on Exports**: Despite a **0.6% year-over-year (y/y)** increase in steel production in Q1, domestic demand declined by over **1%**. Finished steel exports rose by **9% y/y** through May, indicating a strategy to shift overproduction to foreign markets [2]. - **Trade Barriers**: The steel industry faces challenges from rising trade barriers, with Baowu Steel projecting a **15 million tonne** decline in exports by 2025 due to trade measures, which could lead to a significant downturn in the second half of the year [2]. - **Domestic Demand Decline**: Baowu anticipates a **2% potential decline** in domestic steel demand this year, suggesting that even with stimulus measures, production and demand are likely to decrease [2]. - **Peak Steel**: The analysis suggests that China has reached "peak steel," indicating a potential long-term decline in production levels [2]. Implications for Raw Material Markets - **Seaborne Demand**: The cuts in steel production may initially reduce demand for iron ore and metallurgical coal, as China accounts for approximately **70%** and **20%** of seaborne demand in these markets, respectively [3]. - **Global Steel Production**: Countries like India, South Korea, and Vietnam may benefit from reduced Chinese exports, potentially leading to increased steel production and higher global steel prices [3]. - **Price Recovery**: Lower Chinese steel exports could catalyze a recovery in seaborne metallurgical coal demand and prices, as well as high-grade iron ore prices [4]. Market Outlook - **Neutral Stance**: The outlook for iron ore and metallurgical coal markets is neutral in the near term, with expectations of adequate supply. However, lower Chinese exports could positively impact demand and prices for these commodities [4]. - **Preferred Miners**: Vale and Glencore are identified as preferred major global miners for exposure to potential price upside in metallurgical coal and high-grade iron ore [4]. Additional Important Information - **Financial Metrics**: The conference call includes various financial metrics and forecasts for commodities, including price forecasts for iron ore and coal, as well as company-specific financial data for Vale and Glencore [6][10]. - **Analyst Ratings**: The call features analyst ratings and price targets for companies within the sector, indicating a "Buy" rating for both Vale and Glencore, with specific price targets set for their stocks [8][10]. This summary encapsulates the critical insights and implications discussed during the conference call, providing a comprehensive overview of the current state and future outlook of the Metals & Mining industry, particularly in relation to Chinese steel production and its global impact.