FT News Briefing

Swamp Notes: Trump’s big play to save steel production

95 snips
Jun 7, 2025
Alan Beattie, a senior trade writer for the Financial Times, and Zehra Munir, an industrial reporter, dive deep into President Trump's recent steel tariffs and their potential impact on American manufacturing. They explore the political motivations behind the tariffs and how local sentiments in Pennsylvania reflect the clash between union leadership and workers. The duo also discusses the ramifications of Japan's Nippon buying U.S. Steel, as well as the emotional and economic stakes of these industrial moves.
Ask episode
AI Snips
Chapters
Transcript
Episode notes
INSIGHT

Steel's Minor Role, Major Politics

  • Steel employment constitutes a tiny fraction of the US workforce but remains politically significant.
  • Steel tariffs persist globally due to job visibility and difficulty in industry recovery once lost.
ANECDOTE

Steel Rally in Pennsylvania

  • Trump held a rally in West Mifflin, Pennsylvania, where steel still forms a core part of local identity.
  • Workers in their uniforms showed strong support despite political complexities.
INSIGHT

Trump's U-Turn on Steel Deal

  • Trump shifted to approve Nippon Steel's acquisition of U.S. Steel, reversing Biden's block and his earlier opposition.
  • Local workers broke with union leadership, seeing the deal as the only hope to secure jobs.
Get the Snipd Podcast app to discover more snips from this episode
Get the app