posted by jmog
From 2014 to 2016 the US production of steel dropped dramatically from 98 million metric tons down to 86 million metric tons per year.
Since the election in 2016, the US production of steel has gone up to 91 million metric tons in 2017 and 95 million metric tons in 2018.
I am not saying that the tarrifs are "working", but they are demonstrably no hurting the situation.
I was pointing out a specific transaction to QO that seems to fly in the face of his dependable Trump flag waving. The low price and poor performance of AK Steel - in spite of tariffs - allowed Cleveland-Cliffs to get a nice price for an acquisition. As the Cliffs CEO said, "the tariffs have nothing to do with this". I made the point to Quaker to just see if he might admit that the president - regardless of who he/she is - does not have quite the impact on day to day business dealings as Quaker espouses.
In the case of this particular deal, Cliffs' CEO Lourenco Goncalves (who has a personality very similar to Trump's) is making a move to secure the supply chain of iron ore and to also diversify his customer base. If you don't follow him, he is a really interesting guy who knows the steel industry and is good for an awesome quote every now and then.