A recent article in the New York Daily News details how buying foreign steel, often from China and usually subsidized by the Chinese government, is hurting the U.S. steel industry, reducing American jobs, and ultimately reducing the amount of taxes the government collects. One project cited, piers for the Holland Tunnel, bought 5,700 tons of foreign pipe at a savings of $750,000.
But the cost to the U.S. job market was much higher. “There’s a daisy-chain effect," the article explained. If American steel was used, the economy benefits from the workers at the production facility, the workers who fabricate the steel, the workers who transport the steel, and the workers who install the steel. "All of that work for American hands won’t happen now," the article concluded.
Read more at http://www.nydailynews.com/new-york/n-y-robbing-jobs-u-s-choosing-foreign-steel-article-1.3034308.