Report: Crony Steel Companies Have Been Shooting Down Tariff Exemptions

Written by SK Ashby

The New York Times reports that steel manufactures with close ties to Trump regime officials have successfully objected to and blocked over a thousand requests for exemptions from Trump's tariffs.

In at least 1,600 cases, their objections have literally never failed.

Charlotte-based Nucor, which financed a documentary film made by a top trade adviser to Mr. Trump, and Pittsburgh-based United States Steel, which has previously employed several top administration officials, have objected to 1,600 exemption requests filed with the Commerce Department over the past several months.

To date, their efforts have never failed, resulting in denials for companies that are based in the United States but rely on imported pipes, screws, wire and other foreign steel products for their supply chains.

Protectionist policies imposed by officials who don't even understand the fundamental economics of trade are bad enough, but protectionist policies imposed by executive fiat to advance political interests opens to the door to corruption.

Steel manufacturers and Trump regime officials conspiring to artificially raise prices looks like racketeering to me. It's extortion.

Keep in mind that all of Trump's tariffs have been imposed on the grounds of protecting "national security," but the Trump regime has not spelled out how imposing tariffs will protect national security. The very basis of Trump's tariffs hasn't been substantiated and they're being wielded in favor of special political interests, not economic.

This all has a very Robber Barons feel to it.