Home / Metal News / American steelworkers demand higher wages as tariffs raise profits

American steelworkers demand higher wages as tariffs raise profits

iconAug 31, 2018 08:58
Source:SMM

SMM8, 31 / PRNewswire-Asianet /-American steel and ArcelorMittal workers are demanding a new contract to provide higher wages and benefits because steel tariffs make their companies "fight day by day."

A total of about 31000 workers from American Steel and Luxembourg-based ArcelorMittal participated in the national agreement. The (United Steelworkers union) of the United Steelworkers did not directly threaten to shut down work, but negotiated that the two companies' proposals for wages were "unreasonable".

In an interview with Bloomberg (Bloomberg Law), an economist said that at the time of the contract negotiations, steelmakers are benefiting from the rise in US steel prices caused by President Trump's tariffs.

That means steel executives may be reluctant to raise wages permanently in case tariffs are scrapped within a few years.

Gary Hefbaugh, an economist at the Peterson Institute for International Economics (Peterson Institute for International Economics), doubts whether steel tariffs will continue.

(note: if copyright issues are involved, please contact SMM and we will deal with them in a timely manner.)

"Click to view details

Steel
tariffs
imports and exports
mining

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news

SMM Events & Webinars

All