| >Nucor is nearly worth more than ArcelorMittal. No, it isn't. One share of Nucor costs more than one share of MT. This comparison isn't even in the ballpark of the correct way to compare two companies' worths. Nucor has 1/4th of the revenue and 1/5th of the production. > We can either have a healthy, strong domestic steel industry, or we can do nothing and watch China put it into the ground through dumping and massive state subsidies Steel is an intermediate product. No one buys steel as the final product. Changes in price of steel ripple across other industries for this reason. Steel makes up 2% of world trade and steel manufacturers provide the US with 81000 jobs, while our total manufacturers employ 12 million. On the chip manufacturing side, Intel alone employees over 100 thousand. It's more important to consider what the effects of tarriffs are on other parts of the economy than jerking around a little bit of revenue or job growth in a small specific US industry. Also, China produces 10x more steel than the US, and is the largest consumer of steel. It makes sense - they're building out infrastructure at a really fast pace. How many other industries will be hurt in exchange for a "healthy, strong" (whatever hard numbers, if any, those words are actually meant to convey) domestic steel industry? That is all that matters. |