Jon Murphy answers your questions about China and steel:
http://www.econlib.org/library/Columns/y2018/MurphyJtariffs.html
http://www.econlib.org/library/Columns/y2018/MurphyJtariffs.html
For HighStickHarry
- Thread starter Ponca Dan
- Start date
3% of us steel shipments go to defense.
That’s 3% of all steel we make and buy or just 3% of what we make?
That’s 3% of all steel we make and buy or just 3% of what we make?
And none of the imported steel goes to defense?
It’s hard to draw conclusions without more clear figures.
Now, Harry, you're just being obstinate. He says in the article that the majority of imported steel is long steel used for construction (I-beams, trusses, etc.). But even if the 3% figure is for imported steel that represents a tiny fraction of the demand for steel, and would easily be shifted to defense if necessary. It is obvious that Trump's use of "national security" was purely an attempt to skirt congress.
What would the steel needs become in a major wartime scenario and could those needs be solely met with domestic production?
Just trying to come up with correct numbers.
If we use 3% of total steel consumed for defense how does that number work if we have to supply 100% of our own consumption or an adjusted consumption based on a global conflict?
