U.S. Steel Firing Up Dormant Ala. Plant Thanks to Trump’s Trade Policies – NTK Network U.S. Steel Firing Up Dormant Ala. Plant Thanks to Trump’s Trade Policies

U.S. Steel Firing Up Dormant Ala. Plant Thanks to Trump’s Trade Policies

The Pittsburgh-based company citing President Trump’s “strong trade actions” as part of the reason the Birmingham plant is being restarted.

By NTK Staff | 02.12.2019 @2:00pm
U.S. Steel Firing Up Dormant Ala. Plant Thanks to Trump’s Trade Policies

U.S. Steel Corp. announced Tuesday that it is restarting construction on an idled manufacturing facility in Birmingham, Ala. thanks in part to President Donald Trump’s trade policies, according to the Associated Press.

The Pittsburgh-based company said it will spend $215 million and add 150 full-time workers once the plant is opened in late 2020. U.S. Steel expects the plant to have a production capacity of 1.6 million tons.

Trump implemented a 25 percent tariff on imported steel in March 2018, and that move was cited by the company as part of the reason why this Birmingham plant is coming back online.

Trump’s “strong trade actions” are partly responsible for the resumption of work on an advanced plant near Birmingham, the Pittsburgh-based company said in a statement. The administration’s tariffs have raised prices on imported steel and aluminum.

The manufacturer also cited improving market conditions, union support and government incentives for the decision.

Steel imports are down 37 percent since the tariffs took effect, according to the AP, and U.S. steel producers increased output by 5 percent. Revenues rose 19 percent last year for U.S. Steel compared to the previous year, swinging from a net loss to a net profit of $387 million.

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