He's not wrong on thishttps://twitter.com/fxmacro/status/1008855590947446784 …
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Tata and cmc others scrambling to bring up production at steel plants. 309/ton premium for domestic production. Huge incentive
As you know, steel is not clothes, or toys, or whatever. That said, the tariffs need to be done in such a way that new plants are built. Kind of like the foreign orders are cancelled because of uncertainty, so will the new steel plants in the United States.
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Basically, what I'm trying to say is that you cannot make the steel China was supplying on Sundays or at night. So, to your point, the tariffs need to be established as long-term, in a credible way.
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