With the mainstream media covering larger stories about the 45th President, they aren’t covering the actions being done by President Trump that affect the scrap metal industry. We wanted to share some of the actions that have taken place so far that affect or could have an effect on scrap. Like we mentioned when President Trump first took office, there was some buzz around him helping the infrastructure of the country which can lead to a boost in scrap. In his first month of Presidency, there wasn’t too much physical work being done in the country that can relate to scrap, but there are some actions he and his staff have taken that can affect scrap metal. Below are some actions taken and how they can possibly affect scrap metal.
Withdrawing from Trans-Pacific Partnership: What Is It?
The Trans-Pacific Partnership (TPP) Act in a nutshell is a proposed trade agreement that allows the countries (Pacific Rim countries) involved to practice free-trade with each other. President Trump withdrew the US from the TPP, citing that it would hurt the US economy with low-tariffs for trades and would affect US domestic jobs and business.
How Can It Affect Scrap Metal?
This can affect scrap metal indirectly by boosting the economy. If the US economy is stronger and has more domestic jobs staying in the country, it can boost production of buildings and infrastructure that can directly affect the need for scrap metal.
Construction of Oil Pipelines: What Is It?
The Dakota Access Pipeline proposal has the plan to deliver domestic crude oil to more Americans. There were several protests in 2016 against the digging of the pipeline and President Obama at the time held off on the construction. President Trump has since reinstated the planning of the pipeline construction.
How Can It Affect Scrap Metal?
This change in the construction of the pipeline can significantly affect scrap metal, with the materials needed. on February 28, 2017, President Trump stated that this pipeline would be constructed with American steel. This can be a good sign of what is to come with construction in the country. This can affect the demand of scrap steel in the US, which can directly affect domestic buying for scrap steel.
Rebuilding Military Strength: What Does It Entail?
President Trump has stated from the beginning of his campaign that he envisions the US military to be rebuilt and improved. Stating that our technology and equipment is outdated by decades and needs to be updated and invested in.
How Can It Affect Scrap Metal?
Similar to the construction of the pipeline, any construction and manufacturing of newer equipment for the military will require metals and other materials. This will bump up production in the country, thus creating a higher demand for more materials. This can lead to higher need for scrap metal and higher prices to get it domestically.
To read the full story, visit https://iscrapapp.com/blog/5-things-trump-has-done-affecting-scrap-metal/.