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The view from the Idea Center

Two stalwart players in Ohio鈥檚 steelmaking industry are joining forces. It鈥檚 a sign the nation鈥檚 steel sector continues to struggle, despite the tariffs President Donald Trump imposed a year ago to help it.

The Cleveland-based mining company Cleveland-Cliffs, North America鈥檚 largest producer of iron ore pellets, is buying AK Steel, a leading producer of flat-rolled carbon, stainless and electrical steel products headquartered near Cincinnati, in a $1.1 billion stock deal.

By the way, if you want to know what making that kind of steel looks like, check out this . By the looks of it, it involves lots of computers, big machines and special clothing to protect you from temperature extremes.

One billion dollars is a lot of money, but here鈥檚 the kicker: It鈥檚 鈥渓ess than half the stock's value from early 2018 after President Trump first announced he would  place tariffs on steel and aluminum imports,鈥� according to CNN.

AK Steel鈥檚 soon-to-be new chief, Cleveland-Cliffs CEO Lourenco Goncalves, told Bloomberg in the weeks following the announcement that

I wonder what he thinks now. Tariffs have done little to halt a slide in demand for domestic steel. Oil and gas drillers are not purchasing as much steel pipe, , and the price of hot rolled steel has fallen almost 30 percent this year.

Don鈥檛 expect President Trump to change his 鈥淎merica First鈥� trade-war strategy. News of the merger came on the same day

See you bright and early on the radio tomorrow morning,
Amy Eddings

Need to KnOH

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