Posted on 03/07/2018 10:53:50 AM PST by Red Badger
The company plans to call back about 500 employees
United States Steel Corp. X +4.25% said it would restart a blast furnace in Illinois to handle the higher demand it expects from President Donald Trumps proposed tariffs on foreign steel.
The steelmaker said it also plans to call 500 employees back to work at the Granite City mill. U.S. Steel idled its blast furnaces there two years ago as a flood of cheap imports pushed down domestic steel prices. Steel producers have been hurt in recent years by increasing competition from foreign competitors, particularly China, that have ramped up production at lower prices.
Prices have been rising again in the U.S. in part because of the Trump administrations discussions over whether to widen tariffs that have been applied piecemeal in recent years. Spot-market sheet-steel prices have risen more about 37% since October to about $810 a ton, according steel-industry price surveys.
Prices are expected to rise further if the tariffs proposed last week by Mr,. Trump25% on steel and 10% on aluminumare implemented.
U.S. Steel restarted steel processing at the Granite City site and was expected to restart blast-furnace operations to make raw steel from iron ore after
Our Granite City Works facility and employees, as well as the surrounding community, have suffered too long from the unending waves of unfairly traded steel products that have flooded U.S. markets, said Chief Executive David Burritt.
(Excerpt) Read more at wsj.com ...
I’d like to eliminate the income tax and go to a system of tariffs to fund the government. I’d also like to see a national sales tax because a tariff alone isn’t going to be able to do it by itself.
"do it" ... Do what? Fund the current bloated federal leviathan?
Of course not. Patriots want to reduce the size, scope, power, and cost of government. Patriots want to return government to within its constitutional limits. Are you a patriot? You sound like just another tax-and-spend leftist in love with bloated, over-powerful, excessively expensive government.
I think it’s near St. Louis, no?
I see you do not know my pasting history. I have been railing against the income tax forever. The income tax is terrible, but letting countries dump product duty free while at the same time taxing our citizens to death is EVIL.
ROFL!!!
Every time I mention it in some thread about tariffs, you ignore it and rant about "neocons" and "free traitors" and puff yourself up. Your posting history isn't very good.
letting countries dump product duty free while at the same time taxing our citizens to death is EVIL.
Yes. So if we're going to impose tariffs on ourselves, we must AT LEAST reduce our income taxes by the same amount.
You're all over the place. I can't figure you out? Are you a Free Traitor or a Protectionist?
I'm talking about reducing (or eliminating) the income tax. I'm talking about reducing (drastically) the size, scope, power, and cost of government ... something in which you show little interest.
I can't figure you out?
If you would read, and listen, and ask questions instead of throwing out labels and trying to put people in little boxes, you'd have a much easier time "figuring people out".
In fact, I fit in neither of your little boxes.
It’s a win...
Bump
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