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As U.S. Steel Slows Production, It's Time To Stop Pretending Tariffs Work

The biggest American steelmaker says there has been reduced demand for their products in recent months, probably because they raised prices after Trump slapped tariffs on foreign steel.


The largest American steelmaking company will reduce production at two facilities due to decreased demand, despite a year-old effort by the Trump administration to prop up domestic steelmakers with protective tariffs.

It's time to admit those tariffs have failed to achieve their primary policy aims. -snip

Trump lives rent free in your head.

^ coping + deflection

^projecting

The "news" article you posted is easy to pick apart.

Steel stocks are doing pretty good but steel volumes are down:

https://www.fool.com/investing/2019/11/01/why-united-states-steel-stock-just-popped-16.aspx


Steel prices have been up and down since Trump took office. The US-China Trade Ware started in March 2018. Note how steel prices stayed shockingly steady through July 2018 despite the massive amounts of measures Trump's Administration implemented since March of 2018 (and multiple measures since then). It didn't start a steady decline until August.

However and currently, the market seems to have stabilized and is moderately improving.


Don't take my word for it, just look at the facts:

https://www.macrotrends.net/stocks/charts/X/united-states-steel/stock-price-history



Stick to the broader market: companies that are in healthy financial situations will make it through economic slumps and capitalize on the new domestic opportunities for steel. Companies who were in precarious finanical situations or are unable to adapt to a changing market will be forced out of business and their clientele absorbed by other companies.

With US Construction hitting all time highs, there are plenty of domestic opportunities. Industrial steel is a staple of modern construction - essential.

https://www.concreteconstruction.net/article/us-construction-reaches-all-time-high-in-may_c




The market losers who fail to capitalize on opportunities so they will capitulate their market share and die. As I say, "Capitalize or Capitulate."

TIL: Reason.com, the Center-Right website used by you people on KMC is no longer real "news".

Anyhow, everything you said is a long-winded distraction to the point. It's great that the millionaires and billionaires who own stock in steel are a bit richer under this president, but not the point.

The point: steel jobs are down, the ones the blue collar working class Americans have.


Employment in the U.S. iron and steel industry from 2013 to 2018

"Employment in the U.S. iron and steel industry has seen a continuous decline over the past three years, but employment figures have shown some signs of recovery of late. The number of employees working in blast furnaces and steel mills increased moderately to 81,000 in 2018." -snip

We'll see how well it recovers in mid 2020.

Originally posted by Robtard
TIL: Reason.com, the Center-Right website used by you people on KMC is no longer real "news".

A website full of writers who are liberals, atheists, and libertarians is now center-right?


Also, nothing else you said matters or counters my points. It's because they were supported by facts and the actual market figures. There's no reason to continue unless you provide alternative facts?

Your gaslighting won't actually wrap reality.

Reality:

-Steel jobs have declined for three years (though there is possible hope for 2020)

-The steel stock market isn't great, it's just didn't perform as bad as expected, from your site: "Reporting earnings yesterday after close of trading, U.S. Steel confirmed that its Q3 earnings, while bad, were not quite as bad as anticipated."

While I have used Reason before, I gotta say it gets more wrong than right. It's also quite bias against the right. And if some media bias fact checker is claiming it's not then honestly, I'd suddenly question *all* ratings by such a fact checker.

I remember back a few weeks ago when both republicans and democrats released their impeachment report. Reason had two different articles, one about each report. Written by the same guy. The one about republicans was a snarky one, insulting them. The one about democrats wasn't. I say be snarky and insulting about both or just be neutral and report the facts about both.

And they have this nasty habit of leaving out relevant information, which DDM just demonstrated.

See Rob: no one site is perfect or to be trusted 100% of the time. I know you felt you had a gotcha here, I'm so sorry you didn't.

Originally posted by Robtard
Your gaslighting won't actually wrap reality.

You mean your gaslighting where you only see the world in anti-Trump glasses?

Literally, every position you take is anti-GOP or anti-Trump.

Steel production is up since Trump took office:

https://fred.stlouisfed.org/series/IPG3311A2N



Industrial steel production is nearing all-time highs and continues to rise:

https://fred.stlouisfed.org/series/IPN3311A2BS



Fabricated steel production is at record highs:

https://fred.stlouisfed.org/series/PCU33231233231211



Raw Steel production is up and nearing all-time highs since Trump took office:

https://fred.stlouisfed.org/series/IPN3311A2RN



And Steel jobs are significantly up since he took office:

https://data.bls.gov/timeseries/CES3133110001





Why are you saying I'm gaslighting when literally, that's what you're doing?

Keep in mind the sources I'm using are FRED and the US Bureau of Labor and Statistics. So unless you want to call into question the actual sources, the real facts do not match the anti-Trump narrative you're trying to paint.

Here's what happened: you read a news article, saw it was anti-Trump, thought it had credibility, so you posted it here hoping to troll Surtur. You should check your sources and verify before trying to troll Surtur.

I give Trump a C+ on this topic. He's doing a bit better than...okay. He could be doing much better, though.

So I can't tell if this is more Trump Derangement Syndrome or Surtur Derangement Syndrome.

Originally posted by Robtard
Your gaslighting won't actually wrap reality.

Reality:

-Steel jobs have declined for three years (though there is possible hope for 2020)

-The steel stock market isn't great, it's just didn't perform as bad as expected, from your site: "Reporting earnings yesterday after close of trading, U.S. Steel confirmed that its Q3 earnings, while bad, were not quite as bad as anticipated."

US steel is still hurting overall:

"Employment in the U.S. iron and steel industry has seen a continuous decline over the past three years, but employment figures have shown some signs of recovery of late. The number of employees working in blast furnaces and steel mills increased moderately to 83,000 in 2019. -snip, Feb 2020

https://www.statista.com/statistics/813419/employment-in-the-us-steel-industry/

I'd say these could all be merged into one Trump / Energy Resources Trade thread, but I like all the titles too much.


keep 👏 them 👏 separate 👏