After years of being mired in lost jobs and stagnant wages, the American steel industry is roaring back in a way Barack Obama often said would never happen.
President Trump is changing that negative outlook BIG TIME as U.S. steelworkers are set to enjoy pay increases the likes of which haven’t been seen in years.
United States Steel Corp (X.N) workers are set to get the biggest wage jump in at least six years under a new deal negotiated with the company, providing early signs that gains from U.S. President Donald Trump’s clampdown on foreign imports are finally trickling down.
The agreement, reached on Monday, proposes a cumulative 14 percent wage increase over a four-year period, three sources familiar with details of the negotiations told Reuters on Tuesday.
Wages were frozen in the last contract, which ended on Sept. 1, as the Pittsburgh-based company was suffering losses from a slump in the domestic steel prices. The 2012-2015 agreement raised wages by an average of about 1.5 percent per year over three years, according to the workers’ union.
The deal, which needs to be ratified by 16,000 workers across the country, comes days after U.S. Commerce Secretary Wilbur Ross called steelmakers to share the profits from high steel prices with their workers.
It comes at a time when U.S. wages are growing at the fastest pace in more than nine years.
White, black, or brown, male or female, straight or gay, conservative or liberal, the Trump economy is helping nearly everyone in America to have more money, more success, and more happiness.
It might very well be the more remarkable economic turnaround in generations.
Consider that when you watch the 24/7 news cycle attempt to destroy the president who has achieved all of this in less than two years. It’s as if those elite media pundits and politicians don’t actually want America to succeed and for its people to be slaves to the crumbs a would-be globalist government gives them.