US Steel calls 500 Granite City workers after announcement of Trump fare




Hard work in foundry, worker controlling iron smelting in furnaces, too hot and smoky work environment

Hard work in foundry, worker controlling iron smelting in furnaces, too hot work environment and smoked

GRANITE CITY, IL – United States Steel announces that it will call around 500 employees after President Trump's announcement last week. They are restarting one of the two blast furnaces at the Granite City Works steelworks.

"Our facilities and employees of Granite City Works, as well as the surrounding community, have suffered for too long from the endless waves of unfairly traded steel products that have flooded the US markets," writes David B Burritt, president and CEO of US Steel in a statement.

US Steel baderts that steel imports are a threat to national and economic security. The leaders of the company praise President Trump for starting to level the playing field so that companies can compete.

The restart process could take up to four months. The company anticipates calling approximately 500 employees as of this month.

Both the Granite City Works blast furnaces and its steelworks were inactive in December 2015. The hot strip mill of the plant was stopped in January 2016 in response to difficult market conditions. [19659004] Large companies have sent emergency signals since President Trump decided to impose tariffs on steel and aluminum. Trump plans to impose a 25% tariff on foreign steel and a 10% tariff on foreign aluminum. It is not clear if certain countries will be exempt.

China has long been accused of flooding the global market with cheap steel at unfairly low prices by US standards. UU Previous US administrations have imposed a litany of trade barriers on Chinese steel, which only accounts for about 2% of US steel imports. UU But China continues to sell en mbade elsewhere, which suppresses world prices.

Trump's measure would also be directed to United States allies such as Canada, Mexico, South Korea and Brazil, which import more steel into the United States. States that China.

A 2003 report by the United States International Trade Commission found that tariffs caused headaches for some companies. Almost half of the companies told ITC that they had problems obtaining the quantity or quality of steel they needed. Employment in steel-consuming industries, such as automotive companies, fell or remained stable. About one third of these companies reported production delays.

The profits of the companies increased, but the companies reduced the investment in their operations, for example, buying new equipment, since they faced less foreign competition. Almost 20% of companies said that they pbaded higher prices to consumers.

The World Trade Organization ruled that Bush's steel tariffs were illegal in November 2003. A month later, Bush eliminated them.


Source link

Check Also

Marvel Ultimate Alliance 3: How to Unlock Loki

Marvel Ultimate Alliance 3: The Black Order He landed on the Nintendo switch on Friday. …