'America First': Largest steel producer in US announces support of Trump tariffs
FIRST ON FOX: The CEO of the largest steel producer in the U.S., Nucor Corp., endorsed President Donald Trump's tariffs on China, Canada and Mexico, Fox News Digital learned.
"Nucor applauds the first steps taken by President Trump in his America First Trade Agenda," Leon J. Topalian, the chair, president and CEO Nucor Corp., wrote in a statement dated Friday that was obtained by Fox News Digital. "We look forward to working with President Trump to enforce our trade laws and strengthen American manufacturing!"
The subject line of the letter reads, "Presidential Executive Orders on Canada, Mexico, and the People’s Republic of China."
The company's CEO recently joined CNBC's Jim Cramer and celebrated Trump's then-upcoming tariffs as tools to end "currency manipulation" and the "subsidization" of steel coming to the U.S. from abroad.
"We saw the memo last Monday on tariffs and what they're going to do," Topalian said Tuesday. "And I think they're going to be far-reaching, and I think they're going to be very broad to, again, stop the illegal dumping, the manipulation, currency manipulation and subsidization of steels coming into the shores of the U.S."
I remember when the Democrats BEGGED Reagan to do the same thing in the 80s to save Bethlehem Steel from foreign importers ripping off this country and violating trade law. His refusal almost made him out to be a libertarian.
Trump saves MORE American jobs and holds the world accountable for its attempts to rip us off.
This page is a permanent link to the reply below and its nested replies. See all post replies »
I question how being able to produce high quality steel at a lower price is classified as "ripping off '" a country. And its not dumping if the export company is making money.😷
I question how being able to produce high quality steel at a lower price is classified as "ripping off '" a country. And its not dumping if the export company is making money
Idiotic statements like that convince most of us here that you're a teenager, (from an underperforming blue state public school) and you know NOTHING.
Binding tariffs, and applying them equally to all trading partners (most-favoured-nation treatment, or MFN) are key to the smooth flow of trade in goods. The WTO agreements uphold the principles, but they also allow exceptions — in some circumstances. Three of these issues are:
1. actions taken against dumping (selling at an unfairly low price)
2 subsidies and special “countervailing” duties to offset the subsidies
3. emergency measures to limit imports temporarily, designed to “safeguard” domestic industries.
Free market libertarians (at least the intelligent ones of the 90s) had opposed the World Trade Organization for it moving the US away from free market principles. But for now, the WTO is law. PRESIDENT TRUMP is the first president to actually hold our trading partners accountable to the law, and he doesn't care if you uneducated goose steppers like it or not.
It's international law. In PRESIDENT TRUMP's first term, he gave America the greatest economy of the 21st Century with tariff threats to China, (who had been ripping this country off for decades.)
Find someone with an education to read this and simplify it and 'splain it to you.
@Reason10 Normally I would pick apart your comments one at a time... But in this case, you so full of it that the only thing left would be your punctuation. both the US steel and coal industries are so full of tax breaks, subsidies and "incentives" that nowhere is the production cost of the ouput represented in the selling price. The industry itself is dumping its entire production into the market..Nothing would be mined or manufactured if it had to survive on genuine profits.. So its a bit rich for anyone in America to claim others are dumping..😷
