President Trump’s tariffs on foreign steel and aluminum are already paying big dividends in the Rust Belt.
United States Steel Corp. announced they would reopen part of their factory in Granite City, Illinois, to handle the skyrocketing demand expected from the president’s proposal.
Trump announced last week that he would work to implement new taxes on foreign steel and alumninum imports, in order to help American manufacturers compete. Over the past few years, domestic production has declined, as competition from other countries, especially China – whose government faces accusations of selling subsidized steel cheaply in the United States – increased.
By restarting one of the blast furnaces at the Granite City steel mill, U.S. Steel will also bring back the jobs of more than 500 employees. Many of those employees were laid off two years ago when that part of the factory closed.
U.S. Steel CEO David Burritt praised Trump’s tariff decision and stressed the significant benefits for U.S. manufacturers.
“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,” he said.
AAN Staff
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