Maybe a few of you remember the last time the government put tariffs on imported raw materiel...it was intended to help the ailing US steel industry to update their facilities and increase their capacity.More importantly it was intended to allow the US steel industry to compete on a more level playing field...that was 15 years ago..
If the industry would have made the proper capital investment,rather than simply appease shareholders..they would not be in the identical predicament they are in today and we would not be seeing the large and constantly expanding market for offshore raw materiels.
My real job is in the metal stamping industry. And my experience tells me that this move will create a new round of inflation as the US steel producers will struggle to supply the current demand..and will use this simply as a tool to push through a new round of price increases.Which of course the consumer will absorb..Keep your eye on auto prices later this year..And if you are thinking about building a bridge...goodluck on that..
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