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US Steel Industry is on the rebound under Mr Trump-The 18th China(Guangzhou)Int’l Fastener & Equipment Exhibition
5/16/2017 fastener expo |
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According to the New York Times, American Steel is on the rebound with stock prices and confidence soaring within the industry. Mr Thomas Gibson president of the American Iron and Steel Institute told the NY Times that “If you could design a perfect administration from the perspective of the steel industry, this would be it.”
President Trump campaigned on the promise to bring back American jobs to industries that have been decimated by foreign competition, like steel.
For years, American producers have complained about China’s highly subsidized steel industry. The Chinese government pays its producers to make steel, regardless of demand. The result is an excess supply, which allows China to sell at a price Americans can’t match.
The Trump administration launched an investigation into steel imports after US Steel Corp asked a trade agency to look into Chinese collusion allegations. US Steel asserts that Chinese rivals are conspiring to box out American companies.
-The 18th China(Guangzhou)Int’l Fastener
& Equipment Exhibition
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