Trump says he will increase US steel import tariffs to 50%

Rumble ^

[janetjanet998]

At a steel plant in West Mifflin, Pa., Trump announces he’s going to double tariffs on foreign steel, from 25% to 50%.

[janetjanet998]

Video of announcement
https://rumble.com/v6u3mjf-trump-says-he-will-increase-us-steel-import-tariffs-to-50.html

[cableguymn]

that’ll set a judge or 2 off.

[ProtectOurFreedom]

Then the courts said “No you’re not, Bub.”

[ProtectOurFreedom]

Below is some interesting context and history on ramping up steel production. Note that steel is very energy-intensive and wind and solar won't cut it. The steel industry (as will the AI industry) will need cheap, plentiful, and reliable electricity. The expansion of the steel industry could be constrained by the Liberal Greeniac energy policies. Fortunately, President Trump is working to shut that crap down and accelerate building of nuclear power plants.

Doubling steel tariffs (e.g., from 25% to 50%) would incentivize U.S. steel mills to increase production to meet domestic demand and capitalize on higher prices. The timeline depends on capacity utilization, idled facilities, capital investment, and logistics. Here's an analysis:

Key Factors Affecting Ramp-Up Time

1. Current Capacity Utilization: U.S. mills operate at 74–80% capacity (2024). Spare capacity could increase output in weeks to months.
2. Restarting Idled Facilities: Plants like Granite City, IL, took 3–4 months to restart in 2018, adding ~5.3 million tons. Mothballed plants need years.
3. Building New Capacity: New mills or expansions take 2–5 years, requiring significant investment (e.g., $600 million).
4. Capital and Infrastructure: Upgrades and energy needs could delay ramp-up by 6–18 months.
5. Labor Availability: 83,600 workers in 2023. Training and hiring could take months to 1–2 years.
6. Supply Chain: Raw materials like scrap metal may rise 10%. Domestic supply chains need 1–3 years.
7. Market Dynamics: 2018 tariffs added 6 million tons by 2019, but global overcapacity (630 million tons by 2026) may limit gains.

Historical Context: 2018 Tariffs

• 25% tariffs increased production by 6 million tons by 2019; capacity utilization hit 80.3%.
• Idled plants restarted in 3–4 months; new capacity took years.
• Jobs grew 6% (2017–2019) but fell in 2020.
• Steel prices rose 5% in a month, but production lagged.

Estimated Timeline

1. Short-Term (3–6 Months): Optimize existing mills for 2–5 million tons. Restart idled plants for ~5.3 million tons. Add 500–1,000 jobs.
2. Medium-Term (6–18 Months): Upgrades and supply chain adjustments add 5–10 million tons. Scale workforce despite shortages.
3. Long-Term (2–5 Years): New mills add 4.5+ million tons. Domestic supply chains reduce import reliance.

Challenges and Risks

• Global Overcapacity: 630 million tons by 2026 may undermine tariffs.
• Downstream Impacts: Higher prices could cut 75,000 manufacturing jobs.
• Retaliatory Tariffs: EU ($28 billion) and Canada ($20 billion) duties in 2025 may hurt exports.
• Economic Uncertainty: Inflation and recession risks could reduce demand.

Conclusion: Ramping up takes 3–6 months for initial gains, 6–18 months for significant improvements, and 2–5 years for new capacity. Short-term gains of 6 million tons are feasible, but global pressures and economic risks may limit long-term success.

[Kleon]

Looking forward to TACO Tuesday.

[Theoria]

Maybe even the weekend, wont take long.

[janetjanet998]

Trump just now on truth

It is my great honor to raise the Tariffs on steel and aluminum from 25% to 50%, effective Wednesday, June 4th. Our steel and aluminum industries are coming back like never before. This will be yet another BIG jolt of great news for our wonderful steel and aluminum workers. MAKE AMERICA GREAT AGAIN!

[hardspunned]

I like it. My Cleveland Cliff Steel after hours price is up 26%.

[dinodino]

Those numbers sound weird. What is your source?

[packagingguy]

There are national security implications with vital industries. I am no expert on making steel (though the chemistry of tool steel is a thing I sometimes have to deal with at work) nor am I an expert on national security.

But I see a possible strategy the administration is taking.

Right now we are by far the largest market for goods. That gives us leverage.

We are also at the point of a major power shift that may or may not happen (Thucydides Trap).

The western allies have sent their manufacturing base to China, like the British steel industry.

Should conflict come allies could be cut off from each other and would need to be capable of domestic production.

It will be necessary should there ever be a global conflict. Europe, North America and AUS/NZ must be able to manufacture enough to defend themselves alone if need be.

I may be completely wrong but I think this may be as large an issue as just economics.

[ProtectOurFreedom]

You are absolutely right — steel is a MAJOR defense critical product and a huge concern.

It’s the same with manufacturing, especially manufacturing engineers of all stripes. If we can’t make it here, we are in big trouble.

[Robert DeLong]

Watching it live it sounded like the comment was said in jest.

[damper99]

A judge will shoot this down before the end of next week.