Skip to comments.U.S. Steel to Restart Illinois Plant Operations Amid Trumpís Tariff Plans
Posted on 03/07/2018 10:53:50 AM PST by Red Badger
The company plans to call back about 500 employees
United States Steel Corp. X +4.25% said it would restart a blast furnace in Illinois to handle the higher demand it expects from President Donald Trumps proposed tariffs on foreign steel.
The steelmaker said it also plans to call 500 employees back to work at the Granite City mill. U.S. Steel idled its blast furnaces there two years ago as a flood of cheap imports pushed down domestic steel prices. Steel producers have been hurt in recent years by increasing competition from foreign competitors, particularly China, that have ramped up production at lower prices.
Prices have been rising again in the U.S. in part because of the Trump administrations discussions over whether to widen tariffs that have been applied piecemeal in recent years. Spot-market sheet-steel prices have risen more about 37% since October to about $810 a ton, according steel-industry price surveys.
Prices are expected to rise further if the tariffs proposed last week by Mr,. Trump25% on steel and 10% on aluminumare implemented.
U.S. Steel restarted steel processing at the Granite City site and was expected to restart blast-furnace operations to make raw steel from iron ore after
Our Granite City Works facility and employees, as well as the surrounding community, have suffered too long from the unending waves of unfairly traded steel products that have flooded U.S. markets, said Chief Executive David Burritt.
(Excerpt) Read more at wsj.com ...
Blast furnaces stood idle at U.S. Steels facility in Granite City, Ill., in 2017. U.S. Steel says it will restart one blast furnace at the site to handle higher demand in light of President Trumps proposed steel tariffs. Photo: Luke Sharrett/Bloomberg News
Granite City: Making Obamugabe’s “southside” great again!
Immediate, and definite benefit. Naturally, dems condemn it because they hate this country.
Naturally the media will stay mum on the 500 jobs as well, they hate Trump.
What about mining?
Only 500 jobs? But 5,000 used to work there. What about them? /s
That is near Saint Louis, Missouri. Just across the river.
I am sure that the 4 major Democrats in Ill-Annoy (Rauner, Madigan, Durbin, and Duckworth) are fully opposed to this... If Trump is for it, these 4 knuckleheads will be against it.
I hope Republic does the same in the Cleveland Flats. They do still have some action in Lorraine.
Assuredly, somewhere...somebody is accusing Trump of subsidizing US Steel as a result of the tariffs.
Progressive logic being what it is.
This is aside from my view that this is also a national security matter (infrastructure & industry supporting, among other things, defense).
Maybe the growth of American Steel can fix detroit.....
"Those jobs are gone and they're never coming back."
Here’s what’s happening to what used to be US Steel South Works in Chicago. It was huge in the day, and many, many, many families were financed by those jobs.
Take thAt you stupid free traders
The Rust Belt is woke!.........................
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