Imagine how a 25% tariff on imported steel will effect steel prices in general. Our non-profit museum finally raised funds to build a long-needed 3000 sq ft steel storage building. If the contractor buys steel - even USA produced steel - tariffs on imported steel will result in domestic steel prices going up also. And that cuts deeply into our budget.
Just who is the tariff actually helping?
TM
US Steel producers have been unfairly abused over the last 30 years.
Domestic capacity has been reduced. We are net importers.
Jobs that paid good money gone. Manufacturing has moved to service jobs.
Jobs that a Blue Collar worker could do and live a life that provided opportunities for his family.
Nice to see the start of them coming back.
What industry is still alive in CT? Shipbuilding? Only because we cannot off-shore Nuclear Subs.
We started moving production back to the US since Trump announced even the threat.
What is the effect?
This week. 1 Billion $ new plant announced for Ohio. 1000 good paying jobs.
Arkansas 1.3 Billion in a new plant.
Texas 500 Million $ expansion.
The list goes on.
As with everything, some win some lose but it is nice to have a level playing field. I know there are companies that will suffer. For instance a Locker Mfg company said they will have to close one of the 3 plants they have in Ohio. They currently make 3-5 dollars per locker and they will have to now compete with China. Maybe it is time for them to figure another way to compete or develop new products. Connecticut was big in wool and textiles, I imagine that these jobs went overseas due to low wages and an unfair playing field.
Let the negotiating begin.
I hope I don't offend anyone. I think it was a valid question from Mac.