U.S. Steel to restart blast furnace, thanks to tariff
One steelmaker thinks that the forthcoming 25 percent tax on imported steel will boost business enough to reopen a mothballed blast furnace.
United States Steel Corp. announced Wednesday it would restart one of two blast furnaces at its plant in Granite City, Illinois. It credited President Donald Trump’s March 1 announcement that the U.S. would slap a 25 percent tax on foreign steel and a 10 percent duty on aluminum with making the move economically feasible. The plant was shut down in December 2015. Approximately 500 employees will be called back to work, the company said.