Maris Research

Consequences of Trump’s steel tariffs hurt two Pennsylvania mills

Share on facebook
Share on facebook
Share on twitter
Share on linkedin

The same fire that melts the butter hardens the egg.

That “same fire” in Western Pennsylvania, the birthplace of American steel, was President Trump’s Section 232 tariffs. They hardened the barrier against steel imports while melting the aspirations of steelmakers who were relying on imports.

Western Pennsylvania is home to US Steel, the iconic steelmaker that in its early years was known simply as “The Corporation.” It was America’s biggest steel producer for virtually the entire 20th century.

USS and other large integrated steelmakers welcomed Trump’s 25% across-the-board tariffs in March 2018, which would serve to tighten domestic supply, paving the way for higher steel prices and improved profit margins.

Two other Western Pennsylvania steelmakers didn’t fare so well. Allegheny Technologies Inc. (ATI), once America’s largest stainless steel producer, and NLMK USA’s Pennsylvania mill, the former Sharon Steel.

Both made strategic plans to use imported slabs – semi-finished steel – to roll into sheet steel, and had foreign partners to do so. ATI teamed up with China’s Tsingshan Group in 2017 for a Pennsylvania rolling mill project dependent on stainless steel slabs from a Tsingshan mill in Indonesia.

NLMK’s offshore slab supplier was its Russian owner.

Trump’s tariffs made

... continue reading 3rd party author's post at source website


Can't Get Enough Freebies? Subscribe to our Newsletter!

We will send you free research and analysis summarized at the end of each month.

Leave a Comment

Newsletter Sign up

Top Posts


What is Flywheel?


More Articles.

Cointelegraph By Kirill Bryanov

U.S. Congressman wants to scrub bill provision that crypto advocates say is a potential disaster

North Carolina Representative Ted Budd submitted an amendment to the omnibus America COMPETES Act of 2022, specifically targeting the provision that would allow the Treasury Department to impose “special measures,” including surveillance and outright prohibitions, against “certain transmittals of funds.” As Cointelegraph reported, executives of crypto advocacy group Coin Center had earlier turned the spotlight

Read More »

Thursday’s News Links

[Yahoo/Bloomberg] U.S. Futures, Stocks Sink on Hawkish Fed Outlook: Markets Wrap  [CNBC] Asia market fall as investors digest Fed remarks; Nikkei down more than 3% [Reuters] China shares drop amid heavy selling by foreign investors [Yahoo/Bloomberg] Record Commodity Prices Bolster Case for Fed’s Hawkish Tilt [Reuters] Evergrande shares fall as restructuring roadmap disappoints creditors [Reuters] U.S. State Department ‘condemns’ North Korea

Read More »

Get content like this sent directly to your inbox!

Follow OnceBurned

Share on facebook
Share on twitter
Share on linkedin
Scroll to Top