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+---- Thread: U.S. Steel to Invest $750M at Indiana Plant: ‘We Are Experiencing a Renaissance’ (/thread-855770.html)
U.S. Steel to Invest $750M at Indiana Plant: ‘We Are Experiencing a Renaissance’ - thespiritof1976 - 08-20-2018 01:00 AM
Tariffs work. And all of the so-called "experts" knew it from the beginning. Problem is, there isn't as much money in campaign contributions from blue collar America than there is from corrupt robber barons outside the United States (even though Blue Collar America is the engine of the world).
Quote:U.S. Steel has announced that they will invest $750 million at their 110-year-old steel manufacturing plant known as Gary Works in Gary, Indiana, crediting President Trump’s protective tariffs on steel imports.
What was once the largest steel mill in the world will now get a $750 million facelift thanks to Trump’s 25 percent tariff on all imported steel into the United States, designed to protect American industries and jobs from being outsourced.
In a statement this week, U.S. Steel executives said they would be revitalizing the Indiana plant which employs about 3,800 American workers, the Chicago Tribune noted.
While U.S. Steel executives say they are not yet planning to increase the number of jobs at the Indiana plant, U.S. Steel Corp. President and CEO David Burritt said the company is “experiencing a renaissance” because of Trump’s tariffs.
Read more here....
RE: U.S. Steel to Invest $750M at Indiana Plant: ‘We Are Experiencing a Renaissance’ - TigerBlue4Ever - 08-20-2018 06:44 AM
muh trade wars!
RE: U.S. Steel to Invest $750M at Indiana Plant: ‘We Are Experiencing a Renaissance’ - Claw - 08-20-2018 09:42 AM
This is significant.
One of the problems the U.S. steel industry has had is their facilities and processes were older than our foreign competitors. If this gives them an opening to update their facilities and processes, then it will change the balance in the industry.
For many applications, foreign suppliers have been making better steel. If the domestic companies can close that gap, then the tariffs alone won't be the only factor pushing business back to the U.S.
RE: U.S. Steel to Invest $750M at Indiana Plant: ‘We Are Experiencing a Renaissance’ - JTiger - 08-20-2018 09:44 AM
It takes time to build a plant for this use. Will the economics be trending the same way in a year or whenever this goes online?
RE: U.S. Steel to Invest $750M at Indiana Plant: ‘We Are Experiencing a Renaissance’ - BadgerMJ - 08-20-2018 10:23 AM
‘We Are Experiencing a Renaissance’
Yeah, at the expense of.....
Soybean farmers
Pork producers
Apple growers
Distillers
Harley
Etc
Etc
https://www.brookings.edu/blog/the-avenue/2018/04/09/how-chinas-tariffs-could-affect-u-s-workers-and-industries/
RE: U.S. Steel to Invest $750M at Indiana Plant: ‘We Are Experiencing a Renaissance’ - Brookes Owl - 08-20-2018 11:58 AM
Yes, let's "save" an industry that employs less than 200K US workers, while increasing costs for industries that employ 2MM.
RE: U.S. Steel to Invest $750M at Indiana Plant: ‘We Are Experiencing a Renaissance’ - SoMs Eagle - 08-20-2018 12:21 PM
(08-20-2018 11:58 AM)Brookes Owl Wrote: Yes, let's "save" an industry that employs less than 200K US workers, while increasing costs for industries that employ 2MM.
Steel production in the US is a national security issue. The president makes hard decisions that past presidents with no balls wouldn’t. With more support from the US citizen this “trade war” wouldn’t last long. Those taking advantage of us know the American left can be used against the interest of the country and they will use them as long as they can.
RE: U.S. Steel to Invest $750M at Indiana Plant: ‘We Are Experiencing a Renaissance’ - Oman - 08-20-2018 12:22 PM
(08-20-2018 11:58 AM)Brookes Owl Wrote: Yes, let's "save" an industry that employs less than 200K US workers, while increasing costs for industries that employ 2MM.
would you consider a vital steel industry critical to US national defense?
RE: U.S. Steel to Invest $750M at Indiana Plant: ‘We Are Experiencing a Renaissance’ - Brookes Owl - 08-20-2018 01:12 PM
Steel imports do not threaten national security.
DoD essentially agreed, arguing that it's more of an issue for alliances because DoD needs equate to only 3% of domestically produced steel. They clearly recognize the economic impacts.