well-temperedforum.groupee.net    The Well-Tempered Forum  Hop To Forum Categories  Off Key    Tracking the tariffs
Page 1 2 3 4 

Moderators: QuirtEvans, pianojuggler, wtg
Go
New
Find
Notify
Tools
Reply
  
Tracking the tariffs
 Login/Join
 
Pinta & the Santa Maria
Has Achieved Nirvana
Picture of Nina
posted Hide Post
Tick tock. Let's see what happens within the next 90 days. If I'm China, I'm going to wait and see what crisis POTUS is dealing with in 90 days before I give up anything.
 
Posts: 35367 | Location: West: North and South! | Registered: 20 April 2005Reply With QuoteReport This Post
Has Achieved Nirvana
Picture of wtg
posted Hide Post
quote:
President Donald Trump’s tariffs on foreign steel have sped the decline of some of the U.S. mills he vowed to help.

Exuberance over the levies dramatically boosted U.S. output just as the global economy was cooling, undercutting demand. That dropped prices, creating a stark divide between companies like Nucor Corp., that use cheaper-to-run electric-arc furnaces to recycle scrap into steel products, and those including U.S. Steel Corp., with more costly legacy blast furnaces.

Since Trump announced the tariffs 16 months ago, U.S. Steel has lost almost 70% of its market value, or $5.5 billion, and idled two American furnaces in mid-June that couldn’t be run profitably at the lowest prices since 2016. Meanwhile, Nucor, down around 20%, has touted $2.5 billion in expansion projects.

The president’s actions likely “sped up” up an unavoidable “evolution,” said Nucor Chief Executive Officer John Ferriola in an interview last month. “Are some companies are going to suffer? Absolutely. We’ll we see some capacity go away, I’m sure of it."


https://www.bloomberg.com/news...-s-steel-5-5-billion


--------------------------------
We are all visitors to this time, this place. We are just passing through. Our purpose here is to observe, to learn, to grow, to love… and then we return home. - Australian Aboriginal proverb

Bazootiehead-in-training



 
Posts: 37794 | Location: Somewhere in the middle | Registered: 19 January 2010Reply With QuoteReport This Post
  Powered by Social Strata Page 1 2 3 4  
 

    well-temperedforum.groupee.net    The Well-Tempered Forum  Hop To Forum Categories  Off Key    Tracking the tariffs