Posted on 03/02/2018 9:02:11 AM PST by Mariner
The US has always had the upper hand. It took a POTUS with a pair to finally realize that and flex its muscles. I was a Duncan Hunter fan way back and he was screaming about these inequities. Finally a President who is putting the screws to the ChiComs.
The children here love the dollar store, but ever time I go into one, I just feel the “evil” of an operation that relies on Chinese malfeasance and prison labor.
According to this
https://www.trade.gov/steel/countries/pdfs/imports-us.pdf
The United States imported 26.9 million metric tons of steel through the first 3 quarters of 2017. The number fluctuates pretty dramatically, but averages out to about 8 million tons a quarter. Exports on the other hand are relatively stable - around 2 million tons a quarter.
Based on your graph, the US produces about 80 million metric tons of steel. Back-of-the-napkin calculations says if the US completely stopped importing steel AND stopped exporting, the nation would need to ramp up production to just over 100 million metric tons a year in order to meet its needs. So, back to levels seen before the 2009 financial crisis. Clearly not impossible.
Agreed. Although military production would likely raise that requirement, most likely we would still import some steel from Canada and Mexico. (That’s why I said “overseas”. :-) )
They can hit us with a tariff on scrap cardboard and plastic.
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