Final Thoughts
Final Thoughts
Written by John Packard
January 16, 2014
I was reading the most recent economic forecast from the Institute for Trend Research (ITR) on the plane to Chicago this morning. Their analysts have an interesting take on the 2014 economy and we will share portions of their views with you beginning with Sunday evening’s newsletter. One item that caught my eye is their suggestion that now is the time for company’s to hire and train employees in order to be prepared for the up cycle which they think will begin later this year and into 2015. Steel Market Update happens to agree and that is one of the reasons why we are producing the steel training workshops that we have and working on creating new ones. Now is the time to prepare yourselves and your team for a better (albeit competitive) market which will be here sooner than we all may realize.
Our Steel 101: Introduction to Steelmaking & Market Fundamentals workshop is an excellent program to send both new and experienced employees. We work on broadening their knowledge of not only how steel is made but, perhaps more importantly, how it is used. We discuss how steel is bought and sold and market forces which impact pricing and competition. You can find more details on our website or by contacting our office at: 800-432-3475 or info@SteelMarketUpdate.com. Next workshop is February 4 & 5, 2014 in Mobile, Alabama and includes a tour of the SSAB steel mill.
I am speaking at the AWMI dinner in Chicago this evening. A special thank you to the ladies of the AWMI for their invitation and the opportunity to speak to their group.
I will be in New York City next week for the AHR Expo – if you would like to speak to me during the show please drop me an email: John@SteelMarketUpdate.com and we will arrange a time to meet.
As always your business is truly appreciated by all of us here at Steel Market Update.
John Packard
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Final Thoughts
From one group of folks, I’ve heard that Trump might not wait until Feb. 1 – the date he threatened on to place tariffs on China, Canada, and Mexico. They say he could act as soon as Friday. And then there are those who don’t think anything will happen before April 1. That’s the deadline for Commerce, Treasury, and USTR to submit key reports on “America First Trade Policy” to President Trump.
Final Thoughts
Trump made a clarification in a speech on Monday. Previously, he had declared the word “tariff” the most beautiful word in the dictionary. No longer.
Final Thoughts
President Donald Trump on Sunday hammered Colombia with 25% tariffs and threatened to increase them to 50%. Trump in a post on Truth Social said he took the action not because of a trade dispute but because the South American nation had refused to accept planes carrying deported immigrants. The president also cited "national security" concerns, just as he did to justify 25% Section 232 tariffs on steel in his first term. Even the 50% threat echoes his first term. Turkish steel, like that of most nations, was assessed a 25% tariff in March 2018. Trump doubled Turkey's tariff to 50% via a tweet in August of that year over a matter unrelated to steel.
Final Thoughts
We surveyed many of you this week and asked what you wanted to see from the new Trump administration. Responses were varied but fell largely into three groups: tariffs and trade policy, the Nippon-U.S. Steel deal, and those who are concerned about too much government sway in steel. Some also expressed hope that President Trump would continue the infrastructure spending that began under former President Biden.
Final Thoughts
Sometimes new presidential administrations hit the ground running. No time for change like the present. And sometimes new administrations blast off on a SpaceX rocket bound for Mars. There’s a big universe, and we’ve got a lot of flags to plant. Such seems to be the case with the new Trump administration.