And, crediting Trump, the companies are making plans to open up new steel plants and hire more workers. Yet the trickle-down effects are far harder to predict.
Now, facing less foreign competition, domestic steel companies’ profits are ballooning. The Washington Post's Jeff Stein: “As he has pressed his steel tariffs, Trump has declared that the industry is ‘being rebuilt overnight.’ But the question facing the rank and file is whether the controversial policy - which has raised the price of inputs for many American companies and alienated allies - will translate into higher wages and better benefits. The initial anticipation of the tariffs, followed by their actual imposition, led the price of the metal to soar. Steel workers wait to see tariffs' effects.
