It’s time to say good night to manufacturing in US
Regarding the editorial “US steel industry gets a boost with ruling on steel dumping” in The Vindicator on July 16, the work that was needed to have the U.S. Commerce Department change a decision that had previously been made to allow the practice of “dumping” of steel products was in fact an error in judgment by the Department of Commerce. This is good as far as it goes.
However, there is more than one way to skin a cat, as the old saying goes. To wit, the BMW Co. recently announced that it was spending $ 1 billion to build a manufacturing plant in Mexico to increase its products’ presence in the United States. This was accompanied with the suggestion that NAFTA was a consideration in the decision making process.
All that is needed now is for the Tata Steel Co. of South Korea to emulate BMW and build a steel plant in Mexico to increase its presence in the U.S. And so it goes.
Maybe NAFTA has served its purpose and needs to go. But what is more interesting in this day of a very large anticipated increase for structural steel in rebuilding bridges and roads is that U.S. entrepreneurs are not looking to build new steel manufacturing plants in the U.S. Maybe it’s because of the Republican mantra that what is needed is less regulation and no taxes or at the least a very low tax rate.
We, in this country, are at a serious juncture. Do we give up on manufacturing as an economic means of increasing employment, and resign ourselves to becoming a second-class nation? Has greed so captured the rich in this country that anything that might decrease individual wealth is anathema to those with the means to bring this country to the greatness that it should have?
Small businesses will not propel us into prosperity. It will take manufacturing with an expenditure of $7 billion or $8 billion to do it. Take the commercial banks out of the investment banking business, and give it back to those who know how to raise the money that is needed to get this country rolling again.
Leonard J. Sainato, Warren