How Is the US Steel Industry Doing?

As we reported in previous blog posts, it seems that the steel industry in this country is on the up and up. Despite setbacks, the steel industry is proof that business can still flourish in America despite a difficult economy. Recently, there have been many positive news stories seeping through the media cracks, like the rumored contract being offered to workers at U.S. Steel. According to many reports, this very well could be one of the best steel contracts ever for workers. That alone is good news, but that’s not the only bit of news lifting people’s spirits.

Just last month, President Barack Obama signed into law two pieces of trade legislation that US steelmakers believe will help open new markets and improve their ability to battle illegal imports, as reported in Platts. The two pieces of legislation, the Bipartisan Congressional Trade Priorities and Accountability Act, grants the president trade promotion authority to fast-track passage of trade agreements.

Tom Gibson, president of the American Iron and Steel Institute, said, “We thank the administration for recognizing the critical role of the steel industry by supporting these initiatives to improve the effectiveness of our antidumping and countervailing duty laws.”

At Florida Pipe & Steel, we couldn’t agree more, and it will be very interesting to see how these two pieces of legislation will play out, not to mention the contract over at U.S. Steel.

Written by Katapult Marketing

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