U.S. Steel Companies Face Downturn Despite Trump Claims of Revival



Alan Rappeport | The New York Times

WASHINGTON — President Trump has latched on to the idea of using steel to build his wall along the southern border, praising himself for fulfilling two campaign promises at once: keeping out illegal immigrants and resuscitating a struggling industry.

“They were doing very poorly when I took office, and now they’re doing very well,” Mr. Trump said of American steel makers before boarding Marine One this month. “Our steel industry was dying, and now it’s very vibrant.”

But in the 10 months since the Trump administration imposed 25 percent tariffs on steel imports, prices in the United States have now fallen back to levels last seen before the tariffs were announced on March 1.

As reported in The New York Times here.