Tuesday, 04 Feb 2025

'America First': Largest steel producer in US announces support of Trump tariffs

Nucor Corp., the largest steel producer in the United States, endorsed President Donald Trump's tariffs, celebrating them as part of his "America First" agenda.


'America First': Largest steel producer in US announces support of Trump tariffs
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"Nucor applauds the first steps taken by President Trump in his America First Trade Agenda," Leon J. Topalian, the chair, president and CEO Nucor Corp., wrote in a statement dated Friday that was obtained by Fox News Digital. "We look forward to working with President Trump to enforce our trade laws and strengthen American manufacturing!" 

The subject line of the letter reads, "Presidential Executive Orders on Canada, Mexico, and the People's Republic of China."

Nucor is based out of North Carolina and serves as the nation's largest steel producer and scrap metal recycler. 

The company's CEO recently joined CNBC's Jim Cramer and celebrated Trump's then-upcoming tariffs as tools to end "currency manipulation" and the "subsidization" of steel coming to the U.S. from abroad. 

"We're the largest steel company in North America, so, of course, we took a look a year and a half ago and, and, we'll continue to look and see if those assets come back," he said. "But, part of the reason we didn't move forward is valuation. We're not going to overpay for assets."

The tariffs were created in light of "extraordinary" threats stemming from "illegal aliens and drugs, including deadly fentanyl," according to the order. 

"This challenge threatens the fabric of our society," the executive order states. "Gang members, smugglers, human traffickers, and illicit drugs of all kinds have poured across our borders and into our communities.

"Canada has played a central role in these challenges, including by failing to devote sufficient attention and resources or meaningfully coordinate with United States law enforcement partners to effectively stem the tide of illicit drugs."

Foreign leaders have railed against the tariffs. Mexican President Claudia Sheinbaum said Saturday that her country "categorically reject[s] the White House's slander against the Mexican government of having alliances with criminal organizations, as well as any intention of intervention in our territory."

Meanwhile, Canadian Prime Minister Justin Trudeau encouraged residents to "buy Canada" by checking labels at stores to ensure a product is made in the Great White North.

Trump defended the tariffs Sunday evening while talking to reporters gathered at Joint Base Andrews in Maryland. 

"Canada has been very tough for oil on energy. They don't allow our farm products in, essentially. They don't allow a lot of things in. And we allow everything to come in as being a one-way street."

Fox News Digital's Andrea Margolis contributed to this report. 

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