18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
22,662 Blog Posts

Trumpism: U.S. Steel Wants to Bring Back 10,000 Jobs to America

The CEO of U.S. Steel, Mario Longhi, announced on CNBC today that he’s prepared to bring back 10,000 jobs to the United States. Bear in mind, I’m prepared to do the same thing too — but actually have no plans, whatsoever, to do so.

The case of U.S. Steel, however, is a bit more complex — being that Trump can turn X into a fucking jackpot with one sweep of the pen — imposing harsh tariffs on shitty Chinese steel coming into the country.

On May 26th of 2016, the U.S. Department of Commerce slapped China with 500% duties on cold rolled steel — after years of complaints from the industry.

In other words, this is an industry that would benefit greatly from protectionism and making sure the Chinese government isn’t offering subsidies to their producers in order to steal market share in America.

Since then, the steel industry has been on fire — with shares of X up 376% for the year. Quarter over quarter sales growth is picking up and the specter of a gigantic southern border wall has hedge fund managers tripping over themselves to get long.

This, along with the homebuilders, are perfect America first plays, which should benefit from an entrepreneurial Trump administration.

If you enjoy the content at iBankCoin, please follow us on Twitter

One comment

  1. ironbird

    Out of the blue desperate need of tranny bathrooms saved the world. Crazy times.

    • 0
    • 0
    • 0 Deem this to be "Fake News"