Long before being elected as President of the United States, Donald Trump had already made a name for himself in the business industry owning a lot of properties and becoming a business tycoon. Being a self-made billionaire says a lot about the man. He gets things done.
One can’t be a self-made billionaire if he doesn’t have the qualities to be one. Trump, however, has been making surprising moves during and after the election, once again adding to his identity.
Just Who Is Trump?
Trump has been a businessman for most of his life. He has an economics degree from the Wharton School at the University of Pennsylvania, and took over the management of the Trump organization. With his real estate business, he was able to develop, renovate and construct many establishments and buildings.
He even licensed the use of his name for the branding of various properties and products. Trump owned the Miss USA and Miss Universe pageants from 1996 to 2015. He also hosted a reality television series on NBC called ‘The Apprentice’. He really is a great businessman. However, the world of business may be very different from the world of politics.
With the current state of the steel industry, we can only wonder how Trump can manage everything being the President of the United States.
Buy American and Hire American
What does a Trump administration mean for those wanting to invest in the metal industry? Buy American and hire American: this has been the statement made by President Trump and he has been taking actions in order to implement his plans in buying and hiring American.
Many still have doubts that his plans are good for America (and by proxy, the world), however the rise in steel prices show his actions could be creating results. He has signed executive orders that have helped the steel industry by using American-produced materials and equipment to the maximum extent possible.
The Problem with the Steel Industry
The buy American policy has always been a priority of the American government. However, through the years, businesses have made the search to manipulate and look for loopholes in the law a matter of business principle, giving foreign businesses a way to offer their good at cheaper prices, putting pressure on American companies to compete. This created a great struggle for American producers to compete against imported goods from China, for example.
And as far as the steel industry is concerned, thousands of jobs have been lost because of the recession within industry. How does a Trump administration help or hinder investing in the metal industry? With Trump’s plan of reviving the steel industry, investors are hoping the industry will no longer be decimated and that it can recover from the damages incurred during the recession.
What Does Trump Mean for Investing in the Metal Industry?
Trump has always been a great businessman. However the world of politics is much different, as President Trump is discovering. The assumption that being a billionaire and successful CEO makes him competent to be president, has yet to be determined. He can afford whatever he wants in the world, that much is true.
Time will be the ultimate judge of whether Trump will be good for the world. But for now, the steel industry is a concern for Trump and he plans on reviving it. And investors seem to be ready to take a chance on Trump and his ideas and invest.