Nucor Corp. CEO John Ferriola welcomed a U.S. Department of Commerce recommendation Friday for steep steel import tariffs — possibly as high as 53% for a dozen specified countries, including China. [John Downey |February 16, 2018 | Charlotte Observer] “We are very encouraged by the recommendations (Commerce) Secretary (Wilbur) Ross has provided the President to deal with the…
Details
Washington ~ The Coalition for a Prosperous American (CPA) applauded the Department of Commerce reports, released Friday February 17, recommending import restrictions to combat an unprecedented surge of steel and aluminum imports. The recommendations have previously been submitted to President Trump for action, but were made public today. They include tariffs on steel imports ranging…
Details
HOUSTON — Borusan Mannesmann said it will supply almost half of the steel line pipe for the Gulf Coast Express Pipeline Project in Texas – and that the pipe will be made in Turkey. [Dom Yanchunas | February 15, 2018 | AAM] The goods will be made at the company’s spiral welded line pipe mill in…
Details
U.S. regulators rejected a bid by a Chinese-linked consortium to take over the Chicago Stock Exchange, extinguishing an ambitious dream of starting an international listing venue from a minuscule market. [Annie Massa | February 15, 2018 | Bloomberg] The Securities and Exchange Commission’s decision ends a process that lasted two years and took place in…
Details
House Transportation and Infrastructure Committee Chairman Bill Shuster(R-Pa.) said Thursday that an infrastructure bill could be ready “closer to the summer” as he begins the bill-writing process following President Trump‘s infrastructure overhaul rollout. [ MALLORY SHELBOURNE | February 15, 2018 | The Hill] “Peter DeFazio and I are working on a bill together. And based on our conversations at the White House…
Details
By Jeff Ferry, CPA Research Director Safeguard tariffs imposed by President Trump on imported solar cells and panels have been in effect for just over a week, but already we’re seeing moves to boost US solar production in response. No fewer than nine solar manufacturing companies are planning to launch or expand solar manufacturing in…
Details
FBI Director Christopher Wray on Tuesday reiterated a commonly held view among US intelligence officials that China is seeking to become a global superpower through unconventional means — but he framed it as both a governmental and a societal threat to the US. [Michal Kranz | February 13, 2018 | Business Insider] Speaking before the…
Details
Former boxer and machining revolutionary, Titan Gilroy, has an aggressive strategy to combat all the threats to American manufacturing, from outsourcing to the skills gap. (American Machinist — John Hitch: 2-6-18) The list of obstacles standing in the way of an American manufacturing comeback seems to grow every day. We have the skills gap,…
Details
Washington ~ The Coalition for a Prosperous America (CPA) applauded a Commerce Department decision today finding that companies in China are dumping cast iron soil pipe fittings in the US market. The Department stated, in its fact sheet: Commerce calculated a preliminary dumping rate of 68.37 percent for mandatory respondent Shanxi Xuanshi Industrial Group Co.,…
Details
By Jeff Ferry, CPA Research Director Business Roundtable (BR) and others have published economic forecasts that purport to show that the US withdrawing from or substantially modifying NAFTA would lead to US losses in GDP and jobs. We analyze the BR study and show that it is essentially a biased or “rigged” economic model, overlooking…
Details