USA UNCHAINED: US Steel Unveils $750 MILLION Plant Project, Credits TRUMP TARIFFS
US Steel unveiled its new proposal to reinvest $750 million in its Gary, Indiana plant over the weekend; directly citing President Trump’s tough tariffs for what industry insiders are referring to as a “renaissance.”
According to the Chicago Tribune, the company plans to make “significant upgrades” to the facility to cope with increased demand for nationally-produced steel after the President imposed stiff taxes on international goods.
“The investment in the Gary plant is part of a $2 billion asset revitalization program at Pittsburgh-based U.S. Steel. The five-year Gary project will include building expansion and the installation of new production equipment and technology,” writes the Tribune.
“We are pleased to be making this significant investment at Gary Works, which will improve the facility’s environmental performance, bolster our competitiveness and benefit the local community for years to come,” said CEO David Burritt.
“We are experiencing a renaissance at U.S. Steel,” he added.
The President kept his signature campaign promise earlier this year when he announced a 25% tariff on foreign-produced steel entering the United States; escalating a potential “trade war” with China and other trading partners.
Read the full report here.
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