Steel Bends Under Trump Tariffs

Steel bends: Trump’s tariffs on imported steel aim to boost demand for American steel. So far, they haven’t stopped one of the country’s biggest steelmakers, Cleveland-Cliffs, from closing plants and retreating from its strategy to dominate the industry. The top supplier of sheet steel to automakers in the U.S., has in recent months idled plants and iron-ore mines. The company plans this summer to close three specialty steel plants in Pennsylvania and Illinois.

Source: The Hill

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SunshineGirl · 36-40, F

He lifted tariffs completely from UK steel imports yesterday.

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GerOttman · 61-69, M

@JSul3 they're the 2nd or 3rd largest in the US, I don't think that's going to happen. They were looking to buy/merge US Steel since Biden blocked the Nippon Steel merger.

JSul3 · 70-79

@GerOttman Time will tell. I wish them the best but wonder where those folks that lost their jobs will go next.

GerOttman · 61-69, M

@JSul3 That's one of the reasons the execs at this company are supportive of the tariffs. The claim that other countries are "dumping" steel imports here is not without some merit. I agree with the premise even if the implementation is somewhat clumsy.

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