Economy
Eight New Plants at U.S. Steel? Trump's Claim Not True
Written by Tim Triplett
September 28, 2018
U.S. Steel is not opening eight new steel plants. No matter how many times President Trump claims that they are.
In a wide-ranging press conference this week in advance of the hearing of Supreme Court nominee Brett Kavanaugh, President Trump commented on a number of issues including the economy and his steel tariffs. Once again, he repeated his oft-mentioned assertion that “U.S. Steel is opening up a minimum of eight plants” as a result of the tariffs.
Can that possibly be true? Steel Market Update asked the company for confirmation. U.S. Steel is a supporter of the president and his tariffs and is understandably reluctant to contradict him, but the following statement from the company certainly does not make mention of eight new plants:
“All of our operational changes have been publicly announced and all information shared with the federal government has been properly disclosed and made available on our website. We have shared with the government our asset revitalization investments, construction of the new CGL line at our PRO-TEC joint venture in Ohio, and updates on the restart of Granite City Works’ two blast furnaces and multiple related steelmaking facilities. As the president noted in his speech at our Granite City Works facility, a number of other American steelmakers have also made announcements on new investments and capacity.”
As President Trump well knows, if you say something loud enough and long enough, many people will believe it. In the case of U.S. Steel, no matter the frequency or the volume of the president’s claims, the company has no plans to open eight new plants.
Tim Triplett
Read more from Tim TriplettLatest in Economy
New York state manufacturing index drops again in April
Firms were pessimistic, with the future general business conditions index falling to its second lowest reading in the more than 20-year history of the survey
Construction adds 13,000 jobs in March
The construction sector added 13,000 jobs, seasonally adjusted, in March, but tariffs could undermine the industry.
Supply chains, end-users brace for impact from tariffs
Supply chains are working through what the tariffs mean for them
ISM: Manufacturing expansion loses steam after two months of growth
US manufacturing activity slowed in March after two straight months of expansion, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.
Chicago Business Barometer rose to 16-month high in March
The Chicago Business Barometer increased for the third-consecutive month in March. Despite this, it still reflects contracting business conditions, as it has since December 2023.