being taken care of very well and very beautifully. our steel industry is coming back. never have they seen anything than what s happening. they were dumping steel all over our land, dumping steel. and we were losing our steel business. united states steel, the head called me up two days ago that is the most incredible thing that we ve ever seen. we haven t expanded in 30 years. we haven t done anything remotely like expansion and we are now expanding and renovating areas and plants that haven t been used in forever. remember, u.s. steel was massive. they had plans for a mile and a half long and then using little corners of plants. he said this has not happened for decades. we were in south carolina the other night and georgetown steel, and georgetown a wonderful company. they closed four years ago. they announced as i literally was getting off the plane, they
25 years. america has some really good points that it needs to make for china to change the way it does business. it s not without some concern for consumers, especially, and the business people that are trying to sell into those markets. i ll give you the final word. that is a very big issue. if khaoeupb china s dumping steel on us, that s a big deal. we have cotton coming out of oklahoma heading to asia and china. that s also extremely important. beef is another area that s extremely important. pork. all these different products that we re sending out towards china, whether it be feed like milo or whether it be cotton and produced goods, it is very important we keep that two-way trade going. so for our emphasis, the big deal is this really is a global market and it does help us keep as many markets open as possible and get these deals signed. dana: given the chance to compete, americans can certainly compete. and the world wants to buy
allies in the world. particularly some of the strongest potential allies when it comes to the chinese flooding the market with cheap steel. so the europeans should be our natural allies on this. they re also suffering the consequences of the chinese dumping steel on the global market. why aren t we reaching out to them to have them help us solve the problem with a case in front of the wto, and instead of slapping sanctions on them, and inviting them to retaliate against our job creators here in the u.s.? it is an incredibly stupid policy. i guess we just don t know given that it is still in flux what the total impact will be on the economy, because we also don t know how other countries are going to retaliate against us. and, scott, yes, it was a campaign promise, but now you are so many within the republican party who are using the same words, calling it stupid, dumb policy, et cetera, mitch mcconnell, you got house speaker ryan, is this the president just delivering on he s going i
the eye that are laid off and aren t working. he has no idea what s taking place in his own state and he says, where are the jobs? i recently visited ohio weeks ago, they told me south korea steel is a major threat. 2008, we saw the chinese dumping steel into the united states. we found a solution and it s put into place to regulate the system. basically, to make it so everyone was on a level playing field and as soon as that happened american steel started to we were down basically, most plants in the united states were under 30% production at that points and almost everyone was laid off here in lorraine and all around the country. all these milless we saw everyone was laid off. few people skeleton crews. now what we re seeing is it s the exact same situation six years later and now it s korea instead of china so we need to look at what we did then and do the same thing. since that story, congress
do not recognize it. we are the biggest power of technology in the world. people unfortunately of my generation, we turn on the tv, we think that s technology. i have learned more from younger people about why apple down 25, ridiculous today, that s a buy, about why google, about why mobile, why we are triumphant in exporting technology. everyone seems to be worried about chinese dumping steel. i think steel matters in this country. i think it s much more important, when you go to any country in the world, the american brands are the best, maybe not the best cars although in china they think we are, we make things. younger people get that. older people, we re using typewriters, still don t understand what s come up in the 20s, facebook is american, for pete sake. all right, jim cramer and mad money back to school. yankees looked real good last night. how about the yankees? from tulane university on cnbc. cramer, thank you.