Governor Edwards (D) blames tariffs on closing of steel plant (Louisiana)

[fleur-de-lisa]

https://www.nola.com/news/business/article_eb4bdb54-e3bf-11e9-a105-1fbf4a4b79a4.html

"Trade wars are easy to win." Thanks, orange dumbass.

Bayou Steel Group is shutting down its LaPlace steel mill, putting nearly 400 workers out of work as the ripple effects of the growing trade war between the U.S. and China put pressure on the domestic steel industry.

A manager for the 40-year-old plant, which is one of the largest employers in St. John the Baptist Parish, said in a letter to Parish President Natalie Robottom and state workforce officials on Monday that "unforeseen business circumstances" and a lack of financing would force the plant's owners to permanently close the plant by the end of November.

snip

Gov. John Bel Edwards blamed the closure on the Trump Administration's trade war with China, which began more than a year ago with tariffs on imported steel.

"While Bayou Steel has not given any specific reason for the closure, we know that this company, which uses recycled scrap metal that is largely imported, is particularly vulnerable to tariffs," Edwards said in a statement, adding that Louisiana is among the states most dependent on metals that have been hit by rising costs caused by tariffs.

[Wellstone ruled]

2. Forty year old plant.

Lack of financing. Talk about a Company getting sideways.

Tariff's and failure to modernize and stay competitive all in one one package.

Notice this makes Two Plants shut down in the last month.

[Backseat Driver]

3. "which uses recycled scrap metal that is largely imported"

I see the "underground" recyling scrappers loading up their personal vehicles several times a week at the dumpster area in our 340 unit apartment complex - essentially gaining a few bucks from selling their "free" junk just for the costs of their physical labor and mixed use costs of the vehicle - wonder if they get enough to buy healthcare and/or supplemental policies? Food for their families? Another great gun? You'd think America could provide enough metal "junk" to provide without paying for imports. Oh wait, up that line, bigger corporate scrappers need pay these exhorbitent benefits to their employees over and over to the top resellers, commercial lenders, etc...?

[rampartc]

4. it takes lots of cans to fill a gas tank

and iron/steel is more work than it is worth. ir is dealt in tons.

batteries (lead acid) are worth picking up but copper is the money in scrap.

https://iscrapapp.com/prices/