(TNS) Great Again: “Expert” economists who were predicting POTUS Donald Trump’s tariffs on imported steel would tank our own steel industry have once again been proven wrong.
In fact, one could feasibly argue that U.S. steel is booming, and the industry’s 16,000-plus workers are benefitting.
A Reuters report notes that American steelworkers are set to receive their biggest pay hike in years — and after going through a long period where their wages were frozen:
United States Steel Corp workers are set to get the biggest wage jump in at least six years under a new deal negotiated with the company, providing early signs that gains from U.S. President Donald Trump’s clampdown on foreign imports are finally trickling down.
The agreement, reached on Monday, proposes a cumulative 14 percent wage increase over a four-year period, three sources familiar with details of the negotiations told Reuters on Tuesday.
Wages were frozen in the last contract, which ended on Sept. 1, as the Pittsburgh-based company was suffering losses from a slump in the domestic steel prices. The 2012-2015 agreement raised wages by an average of about 1.5 percent per year over three years, according to the workers’ union.
U.S. steelworkers’ increased pay comes as wages are rising in the U.S. at their fastest pace in nine years.
Commerce Secretary Wilber Ross, an economic nationalist, predicted weeks ago that the president’s tariffs would result in higher wages for steelworkers.
“In many ways, the current negotiations between the steel companies and the [United Steelworkers] probably will be a bellwether,” Ross told Reuters. “It wouldn’t be surprising if there are some wage increases coming from that.”
Breitbart noted further:
The 1,850 American steelworkers who are set to see wage increases are based in the Upper Peninsula of Michigan’s Tilden and Empire mines and the United Taconite and Hibbing Taconite mines in Iron Range, Minnesota.
Iron Range, Minnesota — which was devastated by multinational free trade deals — has been revitalized by the Trump tariffs. A local report this month noted how small businesses in Iron Range are seeing employment booms and a growing economy thanks to the strong production of the iron mines in the region.
While it’s not reasonable to expect that every steelworker now benefitting from POTUS Trump’s economic policies will vote for a Republican who supports him in the midterms, the chances are better than even that many will.
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