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US Steel CEO: We're reopening an idled plant and bringing back 500 jobs due to Trump tariffs

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posted on Jul, 19 2018 @ 05:22 PM
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a reply to: watchitburn

But ! ...But...The Imbecile in chief, that knows so much stuff and #, told a steelworker that those "jobs are not coming back" and that Trump won't be able to do it "what magic wand does (Trump) have ?"



Yeah, Barry! It's called a BRAIN...




posted on Jul, 21 2018 @ 11:04 PM
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originally posted by: burdman30ott6
a reply to: watchitburn

Wait, trade tariffs create competitive openings for domestic businesses and domestic manufacturers, leading to jobs for Americans? NO! This can't be! One is left wondering exactly what type of American would be opposed to these tariffs and who it is that's greasing their palms to make them so opposed.


Because it's so great to American businesses that they're forced to use an inferior product due to government intervention preventing them from buying the more competitive one.



posted on Jul, 21 2018 @ 11:05 PM
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originally posted by: CrawlingChaos

originally posted by: TinySickTears
thats awesome.
so the current president made changes that would allow them to open back up. the current president only has 2 more years guaranteed. im thinking he is going to win but anything can happen.

what if the current president gets voted out and the new president rolls it back?

would a company that opens back up be doing a hedging the bet situation?

i hope they all come back.



That's actually a good question. After 3-4 years of active tariffs any business that had planned to stay open would have already changed to cheaper local vendors & suppliers. If Tarrifs against Chinese steel were rolled back, and the inferior product became cheaper again ; It's logical to assume that those business would again change vendors over time.

The real key to long term success in this case, for this business is the same as it always would have been. Keep production costs down, keep product quality up and develop healthy business relationships to the people buying your steel. But that alone is not enough, China has no problem using government subsidies to under sell a product. Corner the market and then slowly raise prices (yes, like Wal-Mart). What this foundry will need, is increased steel usage throughout the country. Increases in commercial building, car manufacturing, updating local infrastructure, etc. etc. Essentially that the economy continues to expand at a healthy pace, thus increasing U.S. steel demand and future projected U.S. steel demand.

Because yes, if you roll these tarrifs back tonight, that foundary will close tomorrow.



That's where you're wrong. Chinese steel is the superior product. That's why they're taking market share.



 
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