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Harris Rips Trump as 'One of the Biggest Losers of Manufacturing in American History'
(www.commondreams.org)
this post was submitted on 28 Sep 2024
240 points (97.6% liked)
United States | News & Politics
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Paywalled.
Did you subscribe to Barons or are you just throwing up something you googled without reading it?
The post COVID economy has been red hot, especially in the States. Pre-COVID we just came off an explosive construction boom. Our current demand for minerals exceeds supply.
You could arguably put inflation on steel tariffs, but that would require you to ignore a deliberate loose domestic lending policy, particularly at the corporate level.
However you slice it...
Is a consequence of poor domestic administration combined with poor foreign ecological controls.
The decision to cash out of US Steel to a Japanese bidder was part of an ongoing liquidation of the industry dating back to the 1990s. That's well before the US began imposing steel tariffs.
The tariffs are a response to federal officials recognizing steel as a strategic domestic asset that has been mismanaged. They are not the cause of the mismanagement.