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Biden’s revival plan doesn’t assure the Rust Belt of more jobs. ‘It’s tricky,’ the UAW president says.
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US President Joe Biden speaks in Pittsburgh, Pennsylvania, on March 31, 2021. (Jim Watson/AFP via Getty Images/TNS)TNS
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Arguably the biggest beneficiaries of President Joe Biden’s plan to spend $620 billion on highways, roads and bridges are the steelmakers.
The Brazilian ones, that is. And the Korean ones. And the Vietnamese and Taiwanese ones. But not so much the once-mighty American steelmakers that Biden and Donald Trump before him pledged to revive.
American steel is too expensive for that $300 a ton more expensive, based on estimates from Bloomberg and Kallanish Commodities. So expensive that two ships hauled thousands of tons of steel coils from Vietnam and Taiwan to the port of Houston last week, while U.S. Steel Corp.’s Big River Steel complex a mere 10-hour drive from the port makes the exact sam
Biden’s Rust Belt revival plan risks luring more foreign steel By Joe Deaux, Bloomberg News
Published: April 4, 2021, 6:00am
Share: President Joe Biden pauses as he speaks about the March jobs report in the State Dining Room of the White House, Friday, April 2, 2021, in Washington. (AP Photo/Andrew Harnik)
Arguably the biggest beneficiaries of President Joe Biden’s plan to spend $620 billion on highways, roads and bridges are the steelmakers.
The Brazilian ones, that is. And the Korean ones. And the Vietnamese and Taiwanese ones. But not so much the once-mighty American steelmakers that Biden – and Donald Trump before him – pledged to revive.
Biden s Rust Belt revival plan risks luring more foreign steel chicagotribune.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chicagotribune.com Daily Mail and Mail on Sunday newspapers.
From Bloomberg: Arguably the biggest beneficiaries of U.S. President Joe Biden's plan to spend $620 billion on highways, roads and bridges are the steelmakers. The Brazilian ones, that is. And the Korean ones. And the Vietnamese and Taiwanese ones. But not so much the once-mighty American steelmakers that Biden and Donald Trump before him pledged to revive.