What does Trump's victory mean for American steelmakers?

One of the points of Trump's strategy to revive the metallurgy is to cut corporate taxes. While this will not directly help major steel producers such as US Steel and AK Steel, which have not paid income tax at the expense of losses, it will help stimulate economic growth and may indirectly have some benefits for steelmakers.

Trump's controversial promise is to block low-price steel imports, particularly from China. China's overproduction is a global problem, so the US and Europe are struggling to deal with it.

In the US, the import market share rose last year to a new record high of 29.1%, up from 20.9% in 2010. The new president is proposing business in terms of a significant shift in imports.

Ironically, steelmaker Nucor reacts negatively to this policy. In the face of fierce competition from imports, the firm has invested and innovated, increasing efficiency and reducing production costs in such a way that Nucor is today able to cope with competitors both domestically and internationally.