Yet another example of Donald Trump being in bed with the Chinese, so to speak, was just discovered and this time it involves the U.S. aluminum industry. In light of this and other recent revelations about his business practices, how any American voter can honestly believe this man when he claims he will get “tough” on trade adversaries like China is beyond understanding.
When the Trump International Hotel and Tower in Chicago was being built, it needed tons of aluminum for construction. While there were many American companies to choose from, such as Alcoa, Trump opted to buy his aluminum from China instead.
In the end, Trump decided to go with Permasteelisa Cladding Technologies. Although it’s a division of Permasteelisa North America Corp, the company has been identified by the American government as an importer of steel, aluminum and other metals from their factories … located in China.
It’s estimated that Trump’s decision to buy the approximately 207,000 feet of aluminum from China cost American companies around $350 million in revenue.
Here’s where it gets even worse. Companies like Permasteelisa engage in trade dumping — which is the process of unloading massive amounts of product into a market at predatory prices by selling below cost of production. This forces competitors out of business because they can’t match the wide price difference. Permasteelisa helped kill American industry and put thousands into unemployment to get a tighter stranglehold on profits at the expense of people’s jobs.
Trump got $350 million worth of aluminum from such a company. He also got the materials at a ridiculously low price, because trade dumping only helps billionaires like him when they want to build things — so you could actually say he profited twice from his decision to buy from China.
Over the past two years more than half of American refineries have closed, while people like Trump get the material to construct gaudy monuments to themselves from other nations. Yet, he claims he supports American industry. Tell that to all the U.S. workers his greed-driven decisions have put out of jobs.
That $350 million could have saved jobs for American workers — the same hardworking blue collar folks Trump claims he is fighting for every day. Instead, he CHOSE to profit while half of an entire industry in America was burned away.
Just another reason this man isn’t fit to lead a Boy Scout troop, much less this great nation.