It has lately been discovered that the man that the American people voted for earlier this month to be their Commander-in-Chief for the next four years, Donald Trump, has been doing business that is considered almost unforgivable, with China. Instead of patronizing the local corporations with bases in several states like Ohio, Pennsylvania, Wisconsin and Michigan that produced aluminum and steel, Mr. Trump, President-elect and one of the richest men in the world, surprised everyone by purchasing about $350 million worth of aluminum from the East Asian country. This was used in the construction of the Trump International Hotel and Tower located in Chicago.
This move makes Americans start questioning his intentions, as he has always reiterated during his political campaigns that he would make sure that he brings jobs back to his homeland.
Trump purchased the aluminum from a company known as Permasteelisa Cladding Technologies, which was a section of an American organization, Permasteelisa North American Corp. Permasteelisa Cladding Technologies imports different metals such as aluminum, steel, etc. from their factories located in China.
This decision to buy and the actual purchasing of aluminum from outside America has had grave impacts on the American metallurgical industries. Another factor which has gone ahead to cripple the steel companies in the United States is the trade dumping tactics employed by Permasteelisa. Trade dumping is a process by which companies unload or flood substantial amounts of products into a market and selling them off for less than the cost it takes to produce such products. This type of marketing strategy has the tendency to not only force business rivals to go bankrupt, but could also put several thousands of people out of jobs as well, and this was what happened. When companies can’t compete by matching prices differences, they end up getting liquidated. It is estimated that at least half of the refineries in America have closed down due to lack of support and business growth. Trade dumping is of immense benefit to billionaires like Donald Trump as he gets to buy the massive amount of metal at an incredibly low price.
Many are pointing fingers at Permasteelisa as the company that is primarily responsible for relieving hundreds of workers of their daily bread while several thousand others are at risk of getting laid off. During the construction of two of his three major construction projects, Donald Trump forsook the purchase and use of steel altogether and opted for cheap concrete instead.
Companies in the United States of America would have gained immense benefit from the $350 million Donald Trump forked over to China. A lot of families would have been saved from being out of jobs. These are the same set of people that Donald Trump claims to be fighting for. He even tried to hide that fact from the American people!
Well, the deed has been done, and Mr. Donald Trump will soon be sworn into office next year. Let’s sit back and watch if he will indeed be ‘tough’ on those countries he lashed out at during his presidential campaigns.