Trump steel tariffs spell relief but not revival
Should Trump proceed with the new tariffs next month, U.S. steelmakers still face headwinds. Benchmark prices were down 38% last year. Higher interest rates hurt demand in big steel-consuming industries such as construction. The steel industry had its its worst year for stock performance since 2018.
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To make the comparison complete, McKinley was backed by the titans of his day, including J.P. Morgan and John D. Rockefeller.
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The comments came after the US president ordered a 25% import tax on all steel and aluminium entering the US, ending previous ...
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