This year was great for the Steel Industry in the United States, and it seems that the conditions will only continue to improve in 2018 as well. The economic and financial situations that Steel Manufacturing companies take part in have been greatly improved, as have prospects for increases in employment, improvements in technology, and a boost in profits and wages.
The President’s words and actions resulted in new tariffs on imported steel, cutting down the overseas competition and encouraging consumers to purchase steel produced in the United States. Even before these new policies were implemented, the voice of our leader had resulted in steel stocks rising and greatly improving consumer confidence.
It was projected that nearly 48,000 steel production jobs were lost between the year 2000 to 2016. Those figures are steadily rising and are expected to continue, even with improvements in automation and steel producing technologies, as demand for high quality steel throughout the United States will continue to grow. The United States expects to improve infrastructure by investing $1 Trillion in construction over the next 10 years. Building repairs, new bridges, road work, and most other infrastructure based work requires the use of steel, and it is all coming from the United States according the new administration.
Growth in infrastructural improvements, production of new businesses, increases in home and building development, and the steel required to build the anticipated border wall, are all factors pointing to growth and economic improvements in the American Steel Production Industry. Some of the biggest plants, near the East Coast, Mid-West, and especially throughout Pennsylvania, are all being incentivized, whether directly or indirectly, to improve their logistics, develop bigger and more advanced foundries and factories, as well as hire more individuals to meet the high demand.
This competing market will no longer be fighting with budget cuts and loss of business as a result of mass imported steel, but will continue to competitively improve technologies, hire and train the smartest and hardest working specialists and workers, and increase wages to attract the best employees possible to this vital industry.
The Steel Industry often includes stock options and profit shares to their employees, meaning that as their industry improves, so too do the wages of their employees. This led an unprecedented amount of blue-collar and logistical workers from Steel plants all around the United States to support and vote for President Donald Trump in 2016. Their voices were heard and their industry is now thriving as a result of the policies that were recommended to the President by the hard working Steel workers of America.
The outlook is strong; America will continue to invest in and grow its steel industry. 2018 will see a further rise in employment, wages, steel production, and technological improvements to our steel industry and infrastructure as a result of higher quality steel being made right here in the United States.