BUSINESS
US Steel credits Trump as it restarts construction on factory
By Associated Press
February 12, 2019 | 9:48am
Donald Trump
AFP/Getty Images
US Steel Corp. will restart construction on an idled manufacturing facility in Alabama, and it gave some of the credit to President Donald Trump’s trade policies in an announcement Monday.
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.
Work will resume immediately, the company said, and the facility will have an annual capacity of 1.6 million tons.
US Steel said it also will update other equipment and plans to spend about $215 million, adding about 150 full-time workers. The furnace is expected to begin producing steel in late 2020.
The 16,000-member United Steelworkers praised the decision to resume work, which followed an agreement with the union reached last fall.
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READ MORE: https://nypost.com/2019/02/12/us-steel-credits-trump-as-it-restarts-construction-on-factory/
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