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Old 22.05.2019, 00:42
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marton marton is offline
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Re: Will Trump be a Good President?

Quote:
Donald J. Trump@realDonaldTrump

In one year Tariffs have rebuilt our Steel Industry - it is booming! We placed a 25% Tariff on “dumped” steel from China & other countries, and we now have a big and growing industry. We had to save Steel for our defense and auto industries, both of which are coming back strong!

12:15 PM - 14 May 2019
In the real world;
The nation's steelmakers stocks have plummeted in the year since the Trump administration first signaled that tariffs were coming.
Shares of US Steel are down 70% since their March 2018 peak.
Nucor the largest steelmaker in the country, is down 25% over the same period.

Steel mills reopened, adding about 9,000 jobs to the industry. Existing mills also increased their output.
But they made way too much steel!
The increased production far outpaced the drop in steel imports, causing a 25% drop in steel prices.

Now Trump has dropped steel tariffs on Canadian and Mexico steel, the future for US steel is not looking good
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