Can Trump Take Credit for Steelworker Pay Increases? [The New York Times]
United States Steel Corporation (X)
Last united states steel corporation earnings: 4/30 04:16 pm
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Source: The New York Times
What Mr. Trump Said “Not seen in many years, America’s steelworkers get a hard-earned raise because of my Administration’s policies to help bring back the U.S. steel industry, which is critical to our National Security. I will always protect America and its workers!” — in a Twitter post on Wednesday This requires context. Mr. Trump was exaggerating when he said wages for steelworkers had not increased “in many years” until his policies kicked in. He is also ignoring the role of the United Steelworkers union and a strike threat in obtaining that raise. In 2012, United States Steel and ArcelorMittal , two of the largest domestic steel producers, agreed to raise wages by 4.5 percent over three years. In 2016, when that agreement expired, the union accepted a wage freeze at both companies in the face of low demand and low steel prices. Demand for American steel has risen, fueled in part by Mr. Trump’s 25 percent steel tariffs and by a strong economy, and has led
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