Source: Jeff Yoders/MetalMiner
President Trump’s $1.1 trillion budget blueprint, released today, proposes dramatic cuts to the State Department and the Environmental Protection Agency, while seeking billions more for defense issues and $1.5 billion for the president’s proposed U.S.-Mexico border wall.
It proposes the previously reported $54 billion increase in defense spending and corresponding cuts to non-defense spending at the State Department, the Department of Housing and Urban Development, the Environmental Protection Agency and the wholesale elimination of other federal programs.
Mick Mulvaney, Trump’s director of the Office of Management and Budget, described the proposal as a “hard power budget” in a Wednesday briefing with reporters, meaning the Trump administration will prioritize defense spending over diplomacy and foreign aid. It significantly cuts funding to global institutions such as the World Bank and the United Nations, too.
While the budget notes that plans and costs for the border wall are not yet completed, according to Mulvaney, the budget will include a request for $1.5 billion as the first installment payment for the promised wall and then another installment of $2.26 billion in 2018.
Steel Shipments Up in January
The American Iron and Steel Institute recently reported that for the month of January 2017, U.S. steel mills shipped 7,708,416 net tons, a 7.5% increase from the 7,173,245 nt shipped in the previous month and a 9.6% increase from the 7,031,307 nt shipped in January 2016.
A comparison of January 2017 shipments to the previous month of December 2016 shows the following changes: hot-dipped galvanized sheets, up 14%, cold rolled sheets, up 13% and hot-rolled sheets, up 4%.