Posted on 06/23/2018 4:27:12 AM PDT by GonzoII
Trump tariffs drive $500M investment in a new Ohio steel plant
JSW Steel USA CEO John Hritz says the company is investing $500M to build a steel plant in Ohio instead of India during a First on FOX Business interview with Edward Lawrence.
A major investment is kickstarting America’s steel industry.
JSW Steel USA plans to invest $500 million to build a new factory in the U.S. Combined with a previous announcement that JSW will modernize an existing plant, the Indian-owned company is making a total investment of $1 billion after President Trump’s tax reform and tariffs on imported steel.
(Excerpt) Read more at foxbusiness.com ...
No comment from Kasich?
Hey pundits you think the Prez don’t know what he is doing? Think again!
Think any Obama voters will apply for work?
Someone who worked at Bethlehem in the 40s told me that.
GloBULList Free Traitors™ are saddened.
Back in MY youthhood, the saying I used to hear was, “As goes General Motors, so goes the Country.” Of course, GM uses lottsa’ steel.
This is huge in OH. Kasick has done NOTHING to bring high paying manufacturing jobs to OH. All of his initiatives are to line his deep-pocket donors in construction and medical companies.
“Those jobs ain’t never coming back.” - Bronco Bama
He'll probably want to make sure they hire as many illegal Mexicans as they can.
Great news! The article says the area is Mingo Junction, which I believe is near East Liverpool on the Ohio River. This is a horribly depressed area, with notoriously high drug abuse issues. Will this be a game changer, putting American men and women back to work with incomes to support a decent lifestyle?
God Bless President Trump, and C’mon Ohio Valley (incudes PA and WV folks) show us what you’re made of! we’re rooting for you!!
People that say that are saying in essence "roll over America and die"
Yeah, all of those Obama voters driven off of welfare and forced to take good-paying jobs due to the heartlessness of Trump and his Basket of Deplorables!
Shame profits are going to India, but better than nothing.
Kinda fitting since the Boss is a man of steel himself.
WINNING!
Great paying jobs for those in Ohio who want to work!
Through its parent company, JSW Group, it’s investing upwards of $500 million in the old Ohio steel plant that was built in 1929, instead of constructing a new facility in India. The project is expected to generate an estimated 300 permanent jobs in a town of just 3,400 people.
“We are going to revitalize that facility and that entire community,” Hritz said.
From another Fox article:
Houston-based JSW Steel USA is planning to modernize an existing plant and build a new facility thanks to a $500 million investment from its parent company in India.
John Hritz, the CEO, said during an exclusive interview with FOX Business’ Liz Claman on “Countdown to the Closing Bell” that the new capacity was planned long before President Donald Trump imposed tariffs of 25% on imported steel and 15% on aluminum. “We are in lockstep with the president and with the administration,” Hritz said Monday. “And we’ve been obviously planning this expansion for the better part of two and a half years.”
Hritz said the company currently has 500 people on site and is expected to hire 500 new employees in high-tech jobs.
JSW Steel USA, located 30 miles outside Houston in Baytown, Texas, sells high-quality carbon steel plates in one of the widest mills in North America.
“We are going to put in steelmaking capacity of a million tons,” Hritz said. “That means we’ll melt and manufacture steel in Baytown instead of importing slabs like we do now, and that will take us into a whole new realm with regards to exactly, exactly what the president is looking for.”
Modern steel plants are miles more advanced than their grandparents steel plants. Imagine running one of the old plants with only 1000 folks.
Indian steel is not tariffed. This plant will be the end point for steel flowing in from India.
JSW = Japan Steel Works
Trump’s efforts to enforce a number of measures aimed at preventing steel and aluminum
dumping by China are intended to create a level playing field for America’s steel industry.
“It’s what the president did and [Commerce] Secretary [Wilbur] Ross about making a fair
playing field regarding stopping the dumping of steel from countries that were dumping
illegally,” Hritz said.
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