This order that the steel be U.S. steel is not much more than a gesture, propaganda? Alternate Facts? I wonder if this will come out in the MSM?
When U.S. President Donald Trump signed orders to revive two controversial energy pipeline projects this week, he pledged to require new pipelines to use American-made steel, a gesture to workers in the hard-hit industry who helped propel him to power.
But U.S. steelmakers will receive negligible benefit from the multi-billion dollar Keystone XL project, one of the two projects Trump ordered to proceed, because they have limited ability to meet the stringent materials requirements for the TransCanada line.
Economists said Trump's order has many loopholes to enforcement and could violate international trade law.
The profits for manufacturing that steel were booked by companies with corporate headquarters in Russia, India and Italy. Those companies own the steel mills in the United States that made about half of the pipeline for the $8 billion project.
Much of that steel has sat exposed to the elements in several giant stockyards along the pipeline's route for more than two years. Analysts said some of it will need to be replaced.
http://www.reuters.com/article/us-usa-trump-pipeline-transcanada-idUSKBN15B2G5
But that is unlikely to come from U.S. producers, such as U.S. Steel, AK Steel or Steel Dynamics, analysts and traders said, because of the specialized steel required for the big-ticket project.
When U.S. President Donald Trump signed orders to revive two controversial energy pipeline projects this week, he pledged to require new pipelines to use American-made steel, a gesture to workers in the hard-hit industry who helped propel him to power.
But U.S. steelmakers will receive negligible benefit from the multi-billion dollar Keystone XL project, one of the two projects Trump ordered to proceed, because they have limited ability to meet the stringent materials requirements for the TransCanada line.
Economists said Trump's order has many loopholes to enforcement and could violate international trade law.
The profits for manufacturing that steel were booked by companies with corporate headquarters in Russia, India and Italy. Those companies own the steel mills in the United States that made about half of the pipeline for the $8 billion project.
Much of that steel has sat exposed to the elements in several giant stockyards along the pipeline's route for more than two years. Analysts said some of it will need to be replaced.
http://www.reuters.com/article/us-usa-trump-pipeline-transcanada-idUSKBN15B2G5
But that is unlikely to come from U.S. producers, such as U.S. Steel, AK Steel or Steel Dynamics, analysts and traders said, because of the specialized steel required for the big-ticket project.