THE POWER OF AMERICAN STEEL
The steel industry supports almost two million American jobs. That means 387,000 direct iron and steel jobs, 716,000 supplier jobs and 878,00 induced jobs come from the American steel industry.
The steel industry supports almost two million American jobs. That means 387,000 direct iron and steel jobs, 716,000 supplier jobs and 878,00 induced jobs come from the American steel industry.
The steel industry plays a dynamic role in the U.S. economy. The industry accounts for $520 billion in economic output, and generates an estimated $56 billion in federal, state and local taxes. Industry-supported workers also earn more than $130 billion in wages and benefits.
Maintaining healthy domestic steel production is essential to our national security.The 16 critical infrastructure sectors that the Obama-Biden Administration defined as being essential to our nation’s security utilize American-made steel.
Since the Section 232 was announced, plants have reopened and companies are powering new investments, enabling the hiring of thousands of workers, including employees laid off after years of unfair and illegal foreign trade practices.
Steelmakers are responding to the steel tariffs by investing capital in American steel production and innovation. Billions of dollars in investments have already been announced with a lot more opportunity ahead. These large investments provide new tax revenues for school districts and local, state and federal governments.
Our economy is now recovering, demand for steel is on the rise and America’s steel industry is helping build back our Nation. We’ll do so with high paying jobs for American workers, building in America and continuing to lead the world in energy efficiency, reduced emissions and sustainability.