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Re: US Steel Closing Plants Because of Tariffs

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@Fishslayer777 wrote:

Closings/layoff are a way of life in the steel industry... just like the auto industry. 

 

https://www.wsj.com/articles/u-s-steel-to-invest-1-2-billion-at-pennsylvania-mills-11556823367


Sadly Dicator Trump does not understand that so you better call him and explain it to him. The Great Depression was given to us by the far right Reb., and they used Tariffs as their final nail in creating it.

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Trusted Social Butterfly
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US Steel Closing Plants Because of Tariffs

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Historically, tariffs almost always fail. They eventually make the problem they're trying to solve, even worse. That's why almost all economists warn against implementing tariffs.

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Re: US Steel Closing Plants Because of Tariffs

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Closings/layoff are a way of life in the steel industry... just like the auto industry. 

 

https://www.wsj.com/articles/u-s-steel-to-invest-1-2-billion-at-pennsylvania-mills-11556823367


"The nicest curve on a woman's body is her smile "
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Valued Social Butterfly
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Re: US Steel Closing Plants Because of Tariffs

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Didn’t trump say that his policies and economic outlooks were so good that the steel industry was going build at least 6 new plants?

Picture is not quite as rosy as promised!

Farmers...steel...who’s next?

Or will trump subsidize the steel industry now!

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Re: US Steel Closing Plants Because of Tariffs

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   Gee if only the current WH regime was actually interested in not using Infrastructure as a tool for getting his stupid wall built, perhaps that would have stopped the current round of layoffs / shutdown of blast furnances.    But since when does donald think past the moment and consider any unintended consequences of his 'actions"?   Answer - NEVER

PRO-LIFE is Affordable Healthcare for ALL .
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US Steel Closing Plants Because of Tariffs

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"Late Tuesday US Steel announced it will idle two of the blast furnaces where it makes steel, one in its flagship mill in Gary, Indiana, near Chicago, the other in Ecorse, Michigan, near Detroit. The idled furnaces will cut production by about 200,000 tons of steel or more a month, the company said.

 

"We will resume blast furnace production at one or both idled blast furnaces when market conditions improve," said the company.
 
US Steel also cut its earnings outlook and shut an additional blast furnace in Europe. Although some of the drop in profit is because of the slowdown in the European economy, it pointed to softening demand in the American market as well. US manufacturing has been slowing recently.
US Steel's action follows similar warnings Monday from Nucor, the nation's largest steelmaker, and Steel Dynamics . Both are now forecasting lower profits. Nucor pointed to weaker demand from the US auto industry. Steel Dynamics said steel prices have declined across its line of products.
 
The Trump administration placed a 25% tariff on steel imports in 2018.
 
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US Steel Closing Plants Because of Tariffs

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US Steel is idling plants, despite tariffs designed to save them

 

New York (CNN Business)Pain has returned to the US steel industry, despite the tariffs put on imported steel last year that were designed to help.

 

Late Tuesday US Steel announced it will idle two of the blast furnaces where it makes steel, one in its flagship mill in Gary, Indiana, near Chicago, the other in Ecorse, Michigan, near Detroit.

 

The idled furnaces will cut production by about 200,000 tons of steel or more a month, the company said.

 

US Steel also cut its earnings outlook and shut an additional blast furnace in Europe.

 

MAGA

 

Source - https://www.cnn.com/2019/06/19/business/us-steel-cutback/index.html

 

 

 

 

( " China if You're Listening - Get Trumps Tax Returns " )

" )
" - Anonymous

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