Mar 9, 2018

Axios PM

By Mike Allen
Mike Allen

Happy Friday. Thank you for reading on this whirlwind week, and here's to a relaxing weekend.

1 big thing: Where we get our steel

After railroading past a number of his advisors, Trump announced this week that he will be rolling out tariffs on imports of steel (at 25%) and aluminum (at 10%), citing national security concerns. In particular, administration officials have lambasted China as the source of unfair trading practices.

The reality: The U.S. imported $900.6 million in steel from China last year — a fraction of what the U.S. imported from several other trade partners. The stated intent is to hit back on China, but all these other trading partnerships are now facing strained ties, and could respond with their own tariffs.

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Note: Includes only products under the "Iron & Steel & Ferroalloy" and "Alumina & Aluminum & Processing" NAICS commodity classifications. Data: Census Bureau; Chart: Chris Canipe and Lazaro Gamio / Axios

Go deeper with Axios' Chris Canipe and Shannon Vavra...

2. What you missed

How’s this for an advance-team challenge? A dog stands on the Mexico side of the current US/Mexico border with Trump's border wall prototypes peeking above. Trump will visit the border wall prototypes on March 13. (Photo by Mario Tama/Getty Images)

  1. Florida Gov. Rick Scott signed a gun control bill today that would enforce a series of new gun control measures. What's in it.
  2. Scoop: During his meeting with Trump on Monday, Israeli Prime Minister Benjamin Netanyahu raised concerns over a possible deal between the U.S. and Saudi Arabia to build nuclear reactors in the kingdom. Details.
  3. The U.S. added 313,000 jobs in February, the most since mid-2016 and far higher than the 200,000-235,000 consensus forecast. The unemployment rate stayed at 4.1%, the fifth straight month at that level. More.
  4. Trump is "hopeful" about the proposed meeting with North Korean dictator Kim Jong-un, the White House said today, but the meeting will not take place until the U.S. sees "concrete actions on the promises they've made." Details.
  5. Martin Shkreli was sentenced today to seven years in prison on federal charges of wire and securities fraud. Details.
3. 1 fun thing

A Sopranos prequel is in the works, Deadline reports:

  • "The Many Saints of Newark, the working title for a feature prequel of The Sopranos ... is set in the era of the Newark riots in the 60s."
  • "That was a time when the African-Americans and the Italians of Newark were at each other’s throats, and amongst the gangsters of each group, those conflicts became especially lethal."
  • "Some of the beloved characters from the series will appear in the film... the time period indicates there will be room for Tony Soprano’s father, Giovanni 'Johnny Boy,' the former captain of the Soprano crew (played in flashbacks by Joseph Siravo), and a younger version of his wife Livia (played indelibly in the show’s first season by Nancy Marchand), and Tony’s uncle Junior..."
Mike Allen