Peak of Erudition

The US steel industry is struggling for the last few years and many of the companies are running on huge losses. The US government has been progressively cutting down the import duty protection levels with a view to making the industry competitive, but it has proved to be a big negative for the entire industry.
That has been used as an effective tool by the Chinese manufacturers to dump their low cost products into the US markets and kill the US industry further. The US government has to look in to the huge government subsidies being provided by the Chinese government to keep their factories running at the cost of US factories.
The US government has to start raising the import duties on the steel products, which in turn would help the US industry to run at higher capacity and bring in more local employment. It would also help the US to cut down on expensive imports and bring down the trade deficit.
The US steel industry’s future is absolutely in the hands of the US administration. What the Chinese government is doing to their steel industry needs to be replicated by the US government to the US steel industry.