Biden’s revival plan doesn’t assure the Rust Belt of more jobs. ‘It’s tricky,’ the UAW president says.
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Today 5:36 PM
US President Joe Biden speaks in Pittsburgh, Pennsylvania, on March 31, 2021. (Jim Watson/AFP via Getty Images/TNS)TNS
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Arguably the biggest beneficiaries of President Joe Biden’s plan to spend $620 billion on highways, roads and bridges are the steelmakers.
The Brazilian ones, that is. And the Korean ones. And the Vietnamese and Taiwanese ones. But not so much the once-mighty American steelmakers that Biden and Donald Trump before him pledged to revive.
American steel is too expensive for that $300 a ton more expensive, based on estimates from Bloomberg and Kallanish Commodities. So expensive that two ships hauled thousands of tons of steel coils from Vietnam and Taiwan to the port of Houston last week, while U.S. Steel Corp.’s Big River Steel complex a mere 10-hour drive from the port makes the exact sam
Biden’s Rust Belt revival plan risks luring more foreign steel By Joe Deaux, Bloomberg News
Published: April 4, 2021, 6:00am
Share: President Joe Biden pauses as he speaks about the March jobs report in the State Dining Room of the White House, Friday, April 2, 2021, in Washington. (AP Photo/Andrew Harnik)
Arguably the biggest beneficiaries of President Joe Biden’s plan to spend $620 billion on highways, roads and bridges are the steelmakers.
The Brazilian ones, that is. And the Korean ones. And the Vietnamese and Taiwanese ones. But not so much the once-mighty American steelmakers that Biden – and Donald Trump before him – pledged to revive.
Get ready for Britain s post-pandemic boom
They once said only Argentina would be slower to recover from Covid - but the UK will leave the rest of Europe trailing in its wake
2 April 2021 • 6:00am
Less than two months ago, in its last Monetary Policy Committee report, the Bank of England forecast that the UK economy would shrink a further 4 per cent in the first quarter of this year. It looked a reasonable enough prediction, given renewed lockdown of at that stage indeterminate length.
At the Paris-based Organisation for Economic Cooperation and Development, they were more pessimistic still. In early December, the OECD warned that recovery from the pandemic would be slower in the UK than any other major economy bar Argentina, with GDP still 6 per cent smaller by the end of this year than its pre-pandemic level.
Biden s Rust Belt revival plan risks luring more foreign steel chicagotribune.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chicagotribune.com Daily Mail and Mail on Sunday newspapers.
From Bloomberg: Arguably the biggest beneficiaries of U.S. President Joe Biden's plan to spend $620 billion on highways, roads and bridges are the steelmakers. The Brazilian ones, that is. And the Korean ones. And the Vietnamese and Taiwanese ones. But not so much the once-mighty American steelmakers that Biden and Donald Trump before him pledged to revive.