Trump's America to Win as China Stumbles, Steel Veteran Says
- Mainland production may contract 100 million tons, Marcus says
- Top steelmaker faces ‘zugzwang’ in chess match with top rival
Trump Orders Investigation Into Steel Imports
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This year’s Chinese steel price rout heralds worse to come, according to a 50-year industry veteran who says the world’s top producer is poised for a painful contraction as demand tumbles and rival nations build trade barriers.
China’s looming troubles contrast with optimism among U.S. steelmakers, encouraged by President Donald Trump’s pledges to back the industry with infrastructure spending and an ‘America First’ trade agenda. Last week, the Trump administration began an investigation into whether steel imports threaten national security, while U.S. Steel Corp. asked for a probe into alleged price-fixing by Chinese producers.