Steel – Blame the American Politicians

Trump tweeted: “Our Steel and Aluminum industries (and many others) have been decimated by decades of unfair trade and bad policy with countries from around the world.”

OK, yes, foreign governments like China subsidize their industries to undercut the cost of steel manufacturing.  But that’s not the whole story.  We have our own politicians to blame as well.  Read this (written in 2011!):

American Steal: How U.S. steelworkers lost to China

This [the weakening of the American steel industry] is occurring despite the existence of “buy American” laws governing major construction projects. The problem, as always, is Congress made compliance optional. If contractors wanted to buy American they could. If they wanted to buy from China or any other government that subsidizes its corporations, they were free to do so. Lawmakers had not been the least bit serious when they drafted the legislation.

Sadly, we have only ourselves to blame.

 

 

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