US President Donald Trump will sign an executive order on Monday raising the threshold for the mandatory use of American-made iron and steel in federal purchases, White House trade advisor Peter Navarro said in a post on Fox News.
Trump is updating his Buy American platform by increasing contractor commitments to use at least 95 percent of steel products in US-funded projects, Navarro said.
Trump will also increase the content threshold for other products to 55 percent, up from the current 50 percent, and eventually raise it to 75 percent within a few months.
A year ago, Trump imposed import duties on steel at 25 percent, guided by national security concerns. As a result, the profits of the leading American steel companies have grown to record highs, and the leading manufacturers of rolled metal products are expanding their activities in the country.
Nucor is building a $ 1.35 billion plant that will produce about 400 full-time jobs, while Steel Dynamics is building a new $ 1.8 billion rolling mill that is expected to create 600 new workers. places.
