Steel maker JSW to build new plant, invest $500M after Trump tariffs

dcbl

Good guys wear white hats
Aug 23, 2011
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Bham, AL
we have the best trade wars, don't we folks?

FOX Bidnezz

quote:
Trump tariffs drive $500M investment in a new Ohio steel plant

JSW Steel USA CEO John Hritz says the company is investing $500M to build a steel plant in Ohio instead of India during a First on FOX Business interview with Edward Lawrence.

A major investment is kickstarting America’s steel industry.

JSW Steel USA plans to invest $500 million to build a new factory in the U.S. Combined with a previous announcement that JSW will modernize an existing plant, the Indian-owned company is making a total investment of $1 billion after President Trump’s tax reform and tariffs on imported steel.

“The Trump administration was the driver behind giving us in the U.S. the ability to compete for capital,” JSW Steel USA CEO John Hritz said during a First on FOX Business interview with Edward Lawrence on Thursday.
 
We must be number one in steel...its a national security issue....one of many that Obama ignored.....
 
bs

FOX = FAKE NEWS
I know it is frustrating for my friends on the left to watch good things happen for American and Americans

muh blue wave

the truth -

Tariffs might protect some jobs in the US steel industry, but far fewer than the number of jobs that will be lost. That’s because steel manufacturers in the US employ far fewer people than industries that make things out of imported steel, like automakers. Just over 400,000 people in the US work in metal-producing jobs, economist Jed Kolko wrote in March. Four and a half million work in jobs that depend on metal.

Employers in the other industries are going to have to pay more for materials, making their products costlier and less competitive. This will force them to cut jobs, economists and industry officials say. Hurting US manufacturers even further, the countries hit by the tariffs will also tax imported US products.

Over 146,000 Americans will lose their jobs to Trump's trade tariffs

Fake Fox doesnt report ALL THE FACTS.
 
Will it be built with real jobs in mind, or automated jobs with few workers and yuge profits? And then again, the 'little people' Trump cares so much about will be paying more for everything from soup to nuts - and bolts

Uh oh! { MINGO JUNCTION, Ohio – JSW Steel of India announced a proposal to invest $500 million to acquire, enhance and upgrade Acero Junction Inc., an integrated steel manufacturing plant here with a potential capacity of 3 MTPA, or million tons per year, of steel.

A release by JSW, the company said the proposed investment would be made in two phases. First, it will revamp and restart the plant’s electric arc furnace and slab caster while modernizing the hot strip mill.

The second phase depends on “the economic viability and prevailing market conditions,” but the plan is to evaluate the possibility of adding another electric arc furnace as well as more manufacturing equipment at the hot strip mill. This would help bring the plant up to the three-million-ton capacity, the company stated. }

JSW Steel to Invest $500M in Acero Junction
 
The money for labor is in automation mostly, very little for workers.

When is manufacturing coming back? :)
 
heres the part that counts -


steel manufacturers in the US employ far fewer people than industries that make things out of imported steel, like automakers.

Just over 400,000 people in the US work in metal-producing jobs, economist Jed Kolko wrote in March. Four and a half million work in jobs that depend on metal.


RW iots are too damn stupid to get it.
 
The money for labor is in automation mostly, very little for workers.

When is manufacturing coming back? :)
half a billion in investments coming is is still a big deal

also look like they are planning ANOTHER half a billion to invest in TX - Steel company JSW USA to add 1,000 new jobs: CEO

a BILLION dollars and 1,000 real jobs

sorry guys, good things just seem to keep happening for America

maybe y'all should round up some brown children for another photo op :dunno:

fQQvMYelYaqYBalQTbq5H8Sg29Rf5soDyog-8fuV3JQ.png
 
We give companies like this a big tax break and they were going to spend it overseas ?
 
we have the best trade wars, don't we folks?

FOX Bidnezz

quote:
Trump tariffs drive $500M investment in a new Ohio steel plant

JSW Steel USA CEO John Hritz says the company is investing $500M to build a steel plant in Ohio instead of India during a First on FOX Business interview with Edward Lawrence.

A major investment is kickstarting America’s steel industry.

JSW Steel USA plans to invest $500 million to build a new factory in the U.S. Combined with a previous announcement that JSW will modernize an existing plant, the Indian-owned company is making a total investment of $1 billion after President Trump’s tax reform and tariffs on imported steel.

“The Trump administration was the driver behind giving us in the U.S. the ability to compete for capital,” JSW Steel USA CEO John Hritz said during a First on FOX Business interview with Edward Lawrence on Thursday.

That is good news, the 300 jobs in that town will be a boon I am sure.

But in the big picture 300 is not even a blip on the radar.

And then there is the overlooked fact that JSW is an Indian company, not an American one.
 
only 20 percent of Americans believe that trade with other countries leads to an increase in jobs, and an even smaller percentage believe that it increases wages.
 
we have the best trade wars, don't we folks?

FOX Bidnezz

quote:
Trump tariffs drive $500M investment in a new Ohio steel plant

JSW Steel USA CEO John Hritz says the company is investing $500M to build a steel plant in Ohio instead of India during a First on FOX Business interview with Edward Lawrence.

A major investment is kickstarting America’s steel industry.

JSW Steel USA plans to invest $500 million to build a new factory in the U.S. Combined with a previous announcement that JSW will modernize an existing plant, the Indian-owned company is making a total investment of $1 billion after President Trump’s tax reform and tariffs on imported steel.

“The Trump administration was the driver behind giving us in the U.S. the ability to compete for capital,” JSW Steel USA CEO John Hritz said during a First on FOX Business interview with Edward Lawrence on Thursday.

Throwing bad money after bad money.

Soon orange turd will be gone and with him all of his batshit 'policies' including tariffs. Then all the idiotic companies like this will go belly up and all the jobs will be gone.

But stupidity knows no bounds.
 
There only hope of retaking the House or Senate was for Trump to fail, that's why they have sour grapes and a sour puss face.

Not now, though, not with Trump. If Obama had this economy that he had recovered, he would be up to 65% popularity. Trump's job approval hovers around 41 to 42%, which means that he is the problem, despite the economy.

Americans, as a whole, don't like or trust him.
 
If Obama had this economy that he had recovered, he would be up to 65% popularity.
agree 100%

if Trump had even 40% positive coverage (instead of under 10) he'd be there as well

reelection in '20 looks likely though, as people tend to vote their pocketbooks
 

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