Ingram Publishing/NewscomPresident Donald Trump could impose massive new tariffs on imported steel as early as Thursday morning, a move that economists say will send shock waves through the American economy, increase prices for American businesses and consumers, cause significant job losses in industries that depend on cheap steel, and, to top it all off, might start an international trade war.
And the head of U.S. Steel is just fine with all that.
David Burritt, CEO of U.S. Steel, announced Wednesday that his company will reopen a shuttered plant if Trump’s proposed tariffs are approved.
“We’re really excited to be able to tell our employees in the community in Granite City, Illinois, that we will be calling back 500 employees,” Burritt said during an appearance on CNBC’s Squalk Box show. He praised Trump for showing “courageous leadership” on the tariffs.
Courageous is probably not quite the right word. Trump is steamingThis post was originally published on this site