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Governments are instituted among Men,
deriving their just powers from the consent of the governed,
That whenever any Form of Government becomes destructive of these ends,
it is the Right of the People to alter or to abolish it,
and to institute new Government

Friday, May 12, 2017

Steel Industry, Seeing a New Dawn, Is Cheering for Trump

From the New York Times:
Across the steel industry, stock prices — and spirits — have been on the rise, lifted by President Trump’s vow to protect American manufacturers against cheaper imports and invest as much as $1 trillion in infrastructure over the next decade. 
“If you could design a perfect administration from the perspective of the steel industry, this would be it,” said Thomas Gibson, president of the American Iron and Steel Institute, ticking off the president’s promises to hack away regulations and lower taxes, while fending off foreign competitors and embarking on a “Buy America” building program. 
Even before a single presidential vote was cast, American steel makers had been buoyed last year by record automotive sales and a series of penalties slapped on foreign producers like China for illegally dumping subsidized steel in the United States. “We expect our sheet and plate steel mills will benefit from trade actions taken over the last year,” said John Ferriola, Nucor’s chief executive. 
Mr. Ferriola, one of the business leaders who met with Mr. Trump at the White House in February to discuss American manufacturing, is looking for further improvements. “We believe our full year 2017 could significantly exceed the level achieved for 2016,” he said, noting that “imports and inventories are down.”


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