Posted on Aug 20, 2019
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Lair in Chief MAGAAA. The so called economic genius inherited a healthy economy... Trump claimed that his 25% tariff on foreign steel imports turned what he called a "dead" business into a "thriving" one, but that's not true. Since Trump imposed the tariffs nearly 18 months ago, U.S. Steel has seen its market value plummet by 70%. They already had to idle two other blast furnaces at other locations early this year. That's hardly "thriving."
US Steel announces more layoffs despite Trump saying he saved the industry
Posted from shareblue.com
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Posted >1 y ago
Responses: 9
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Yup those steel tariffs sure did help American steel workers didn't they!
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Patricia Overmeyer
Lt Col John Christensen: Trade wars are easy to win! We're going to have so much winning you're going to beg me to stop winning! And you have no choice but to vote for me because I'm the one who's going to keep the economy going and your 401(ks) are going to be really big. But you know, Americans really have a lot of money right now. They are really spending that money and they are really wealthy.
And if you believe that, I've got a beachhead in Cuba for sale...used once.
And if you believe that, I've got a beachhead in Cuba for sale...used once.
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Patricia Overmeyer
Lt Col John (Jack) Christensen - That would be excellent! BS emojis and rolling eyes emojis.
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Let's see what the steel industry has to say. Just in case you don't want to read it
As China, the world’s leading steel supplier decreases production, demand in the United States continues to rise. Seth Rosenfeld, an analyst at global investment banking firm Jefferies, notes in this Financial Times article, “Chinese steel exports plunged 30 percent in 2017, reversing years of export growth that painfully took share from western steelmakers.” Rosenfeld goes on to say that as China’s steel exports decline, we can expect “robust” western steel prices.
US steel production is up.
Steel Manufacturers stock prices are up
and demand for US steel is up.
Also check your math the price of steel has not dropped 70%
"https://gensteel.com/building-faqs/steel-building-prices/forecast
As China, the world’s leading steel supplier decreases production, demand in the United States continues to rise. Seth Rosenfeld, an analyst at global investment banking firm Jefferies, notes in this Financial Times article, “Chinese steel exports plunged 30 percent in 2017, reversing years of export growth that painfully took share from western steelmakers.” Rosenfeld goes on to say that as China’s steel exports decline, we can expect “robust” western steel prices.
US steel production is up.
Steel Manufacturers stock prices are up
and demand for US steel is up.
Also check your math the price of steel has not dropped 70%
"https://gensteel.com/building-faqs/steel-building-prices/forecast
As a global commodity and building resource, steel value can greatly vary. Know the most recent steel prices with our helpful pricing forecast guide.
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SSgt Ray Stone
FAKE NEWS. Rosenfeld said that we can EXPECT a robust which is basically a forecast and it hasn't happened as Trump said it would. You lack reading comprehension here you go The metal titan US Steel has lost $5.5 billion, or roughly 70%, in market value and idled two furnaces since the president announced the move in March 2018
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SFC Michael D.
So why would they be laying people off if this robust western steel price is supposed to happen?
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