Trump's tariffs have helped steel companies. Workers are still waiting. [CNN]
KeyCorp (KEY)
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Source: CNN
Trump's tariffs have helped steel companies. Workers are still waiting. The steel industry added 2,400 jobs last year, an increase of just over 1%. Employment in the industry is still down about 43% since 1990. Trump's tariffs made it 25% more expensive to buy foreign steel, aiming to redirect business toward American producers. Steel production in the United States grew about 5% last year and producers are restarting shuttered mills and expanding existing plants, and have announced plans to build new ones. "Our steel industry is so vibrant now, again. They're building plants all over the United States. It's a beautiful thing," Trump said Friday. Job creation may pick up as producers start reopening mills and building new ones, but analysts say will take some time, given how tight the US "Right now, there is a skills deficit in the steel industry. The people laid off years ago may be doing other things," said Philip Gibbs, a steel analyst at KeyBanc Capital Markets. The jobs being cre
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