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
Beige Book: Tariff pressures mount, flat outlook
All districts reported “experiencing modest to pronounced input cost pressures related to tariffs, especially for raw materials used in manufacturing and construction.”
Steel exports recovered in May but still historically low
US steel exports rose 10% from April to May but remained low compared to recent years. This came just one month after exports fell to the lowest level recorded in nearly five years.
AISI: Raw steel production ticks up near recent high
The volume of raw steel produced by US mills inched higher last week, according to the American Iron and Steel Institute (AISI). After steadily increasing in April and May, domestic mill output stabilized in early June and has remained historically strong since.
Steel groups welcome passage of budget bill
Steel trade groups praised the passage of the Big Beautiful Bill (BBB) in Congress on Thursday.
Industry groups praise Senate for passing tax and budget bill
The Steel Manufacturers Association and the American Iron and Steel Institute applauded the tax provisions included in the Senate's tax and budget reconciliation bill.