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Trump: Tariffs have 'saved' steel industry
Source: The Hill
BY BRETT SAMUELS - 01/28/19 08:37 AM EST
President Trump on Monday credited his administration's tariffs on foreign steel imports for reviving the U.S. steel industry.
The president claimed that the tariffs have led to new and expanded plants opening, and "billions" paid to the U.S. treasury, calling it a "big win for U.S."
Link to tweet
Trump has regularly touted the steep steel and aluminum tariffs he imposed on foreign imports last year for boosting the U.S. steel industry.
The New York Times reported earlier this month that dozens of steel mills opened, restarted or made new investments last year, but noted that steel prices in the U.S. have fallen back to the same levels they were prior to the tariffs being imposed.
Read more: https://thehill.com/homenews/administration/427214-trump-tariffs-have-saved-steel-industry
6 replies
= new reply since forum marked as read
= new reply since forum marked as read
Hat tip, commenter Calico Jane at Joe.My.God.
New York City: Openly Gay City Council Speaker Corey Johnson Begins Ground Game For 2021 Mayoral Race
January 28, 2019 LGBT News, Politics
January 28, 2019 LGBT News, Politics
She linked to this:
As always, a lie.
The actual data here on how
"a year after Trump slapped tariffs on imported steel, the U.S. steel industry is not thriving. It is reeling. Steel prices have fallen back to pre-tariff levels. Employment is stagnant" and stock prices fell:
Link to tweet
Trump’s Tariffs Are Killing American Steel
Blog Post by Benn Steil and Benjamin Della Rocca
January 18, 2019
“Our Steel Industry is the talk of the World,” President Trump tweeted in September. “It has been given new life, and is thriving.”
Yet nearly a year after Trump slapped tariffs on imported steel, the U.S. steel industry is not thriving. It is reeling. Steel prices have fallen back to pre-tariff levels. Employment is stagnant. The clearest sign that tariffs are not working, however, is the stock market.
If the president’s policies were working as planned, the steel industry should outperform other sectors. Yet as the graphic above shows, since Trump announced steel tariffs on March 1, 2018, steel-producer stock prices have plummeted 22 percent—while the S&P 500 index has fallen only three percent.
....
Blog Post by Benn Steil and Benjamin Della Rocca
January 18, 2019
“Our Steel Industry is the talk of the World,” President Trump tweeted in September. “It has been given new life, and is thriving.”
Our Steel Industry is the talk of the World. It has been given new life, and is thriving. Billions of Dollars is being spent on new plants all around the country!
Link to tweet
Yet nearly a year after Trump slapped tariffs on imported steel, the U.S. steel industry is not thriving. It is reeling. Steel prices have fallen back to pre-tariff levels. Employment is stagnant. The clearest sign that tariffs are not working, however, is the stock market.
If the president’s policies were working as planned, the steel industry should outperform other sectors. Yet as the graphic above shows, since Trump announced steel tariffs on March 1, 2018, steel-producer stock prices have plummeted 22 percent—while the S&P 500 index has fallen only three percent.
....
