As early as the US President Trump's tariffs to protect the steel industry, NUCOR, the largest steel producer in the United States, intends to build a new factory in Sili Termia, and it does not need the protection of tariffs to protect it.make money.
Although the company helped take the lead in improving tariffs on imported products, executives said that they invest in Sitlia and other two locations, and they will use a profitable strategy without relying on government help.
According to the analysis of industry executives and experts, and Reuters 'financial reports, although Trump claims that steel workers' rice bowls have been snatched by unscrupulous foreign competitors, their 25%import tariffs are leviedMost benefits have flowed into Newks and other modern American steel companies with global competitiveness, and the profit of these companies was very strong.
Even though tariff measures have promoted these companies to expand, they are unlikely to increase employment in large quantities because they have always maintained competitiveness by reducing the number of workers needed for steel production.
The U.S. Department of Commerce told Reuters that tariff measures will help the Sitlian plant and other 12 steel projects to create approximately 3,405 jobs.The American Iron and Steel Industry Association said that this is equivalent to an increase of 2.4%in the entire industry.
According to some companies' statements and the company documents seen by Reuters, about 1,400 jobs, including three projects, including three Newks factories, are planned before tariff measures and do not depend on tariff measures.In addition, Republic Steel RSI.ul said that the company's two projects may not be able to advance.These two projects will create 690 jobs through restarting idle business.
Regarding whether all items on the list originated from tariff measures, a spokesman for the US Department of Commerce did not comment, but pointed out that the recent decline in steel imports from steel and increased domestic output.The Ministry of Commerce said that it is necessary to import general tariffs, because foreign producers often use deception behaviors to avoid anti -subsidy and anti -dumping tariffs that are only applicable to small -scale specific products.
Since the 1970s, Newque has led the industry to transform from labor -saving factories in the industry, and replaced old -fashioned blast furnaces with higher efficiency modern arc furnaces.
Trump's tariff measures may play a key role in continuing the life of old -fashioned inefficient factories. For example, the Granite City factory near San Louis, a US steel company, held activities to promote tariff measures in St. Louis in July.The company said that tariff measures have prompted them to restart the two blast furnaces that were idle in 2015 and increased 800 jobs.There will be a total of 1,500 workers in a factory working in a steel water and sparkling factory, and still use a multi -step work process with labor -intensive types.
In contrast, in the factory in Newks, 225 workers will use high -tech furnaces to refine steel.Nearly 70%of the current steel output of the United States are produced by this technology.According to Charles Bradford, president of Bradford Research, using this high -tech can save one -third of manpower and energy.
New Seque's CEO John Ferriola said in Washington last year that tariff measures will encourage investment in the steel industry, but he emphasized in a statement to Reuters that New Sek's capital project is to improve its competitiveness, even without tariff measures.
A spokesman for the company said that although Newks's expansion does not depend on protectionist policies, tariff measures limited the steel factories that are dumped in foreign steel plants in the US market, thereby reducing the difficulty of Newks's investment in the above investment.Essence
Newks announced last month that the third quarter profit increased by nearly twice the same period last year to $ 6766.6 million.According to Luther's I/B/E/S data, the profit of the S & P 500 Index Iron Classification Index in the first half of 2018 increased by more than 75%, and the expected jump of 166%in the second half of the year.
** employment position in the transformation **
Newks is at the forefront of the trend of cutting labor costs in modern factories.According to data from the US Iron and Steel Association, as the working hours required to produce a ton of steel have decreased from 10 hours in the 1980s to two hours, the workers needed by the industry are also decreasing.
Newks chose Sitlia to build a factory because it is located on a major railway line, close to a large amount of waste metal resources, and there are large construction markets that need the factory's nuts.
Although there are few employment opportunities created by the factory compared with the past steel mills, the average salary provided by it is very attractive in Sitlia.According to the US population census data, the value of houses in the area is 86,000 US dollars, and 15%of adults have a college degree.
The desire for these tasks highlights a political situation that is often ignored in the Trump trade policy debate. In areas such as Sitlia, steel work is more popular than other blue -collar workers.70%of residents voted for Trump in Sitlia to support Trump.
Sitia sent a 10 -person group to pursue Newque for one year, and the tax provided by the state may reach nearly $ 27.3 million in 15 years.The local economic development director Jessica Craig said that these tasks were transformed.
** Deadly China **
Newks is also warmly welcomed in Washington, and the company's spending for lobbying is the highest among all steel companies.According to Newk's Newk's disclosure data compiled by the Center for Responsive Politics, Newks' lobbying expenditure this year was 1.25 million US dollars, below the peak of US $ 2.71 million in 2015.
Newk's political expenditure began during the period of Dan Dimicco, the former chief executive, and also includes donations of millions of dollars to political candidates.Dimicco took office in 2000 and resigned in 2012.Since then, DIMICCO provides Trump's proposal for manufacturing during the Presidential transition period. He is currently a member of the US trade policy and negotiating and consultants.The committee is a key tool for business leaders to influence US trade negotiations.
Newks also donated $ 1 million to the non -profit organization of San Diego in 2011. Peter Navarro, who is currently serving as a senior trading consultant of Trump at the time, took a lot of money called a fatal China (DEATH BY CHINA movie.There is such a picture in the movie. A knife printed with Chinese flags is inserted into the American flag. The matching painting is the only big country in the world to kill Americans.
Dimicco said his experience in operating Newks has shaped his point of view.
Customers came to me and told me: lsquo; China is asking our life RSquo; he said in an exclusive interview that the influence has far exceeded the steel industry itself ... maybe it must be imported from each other in China.The tax levy of goods can change their behavior.
Although they issued alert to unfair competition and faced many disadvantages, Newque's executives were still proud of the company's performance.New Year has made profits since 1968, with only one year of exception-2009 during the global financial crisis.
Newks also tried to prevent other companies from getting the efforts to obtain tariff exemption through certain procedures of the Ministry of Commerce. For example, a company could not find the situation of steel products required in the domestic market.Newks said that for the tariff exemption requirements of more than 42,000 steel products on October 22, Newks had objections to about 10%of them.
These include the requirements from NLMK Pennsylvania LLC. This company hopes to use the inlet flat steel embryo used to make steel rolls to obtain tariff exemption.
They did not produce the flat steel embryo we used,LMK CEO Bob Miller mentioned Newks that he believed that Newque intends to compete with him in the sales of steel rolls, which is simply anti -competitive behavior.
In the statement, Newks stated that tariffs are increasing the capacity of flat steel embryos required by NLMK, so there should be many flat steel embryos in China to buy.
** Iron users' profit erosion, employment loss **
Those who criticize the tariffs believe that the profit growth of the steel industry is at the expense of customers and their employees.According to a Washington's economic forecast and consulting company Trade PARTNERSHIP Worldwide LLC, for steel users from production tractors to building skyscrapers, increased prices means that every time for steel manufacturing companies to increase, they may have to reduce by 16Job.
Tariff advocates believe that such concerns exaggerate their words.
What you see is that the six months of the implementation of steel tariffs, the manufacturing economy has performed strongly, and the chairman of the US Manufacturing Alliance, Scott Paul, said.
Steel consumers said that as steel prices increased their competitiveness, they would reduce their posts.
The main car companies have already stated that steel tariffs means new costs for the industry. These companies include Ford, Honda, Fiat Chrysler and General Motors.GM recently announced that it will reduce North White -collar workers.
Not just car companies, all steel users are unavoidable.Joe PecoRaro, a project executive of Chicago architect Skender Construction, said that the tariffs in this area have caused him to postpone two projects, and these projects should have produced at least 130 buildings.
All things made of steel, he said that the cost of this year has soared.(End)