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Trump Chose to Use Chinese Steel Over American Giving Them Millions of Dollars

Monday, October 3, 2016 14:41
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(Before It's News)

How often do we hear Trump talk about how China is killing us? Well, as it turns out, Trump isn’t helping the situation. In fact, as reported by Newsweek’s Kurt Eichenwald, during the last couple of construction projects, Trump chose to use foreign Chinese steel over American made steel to save money.

Newsweek investigation has found that in at least two of Trump’s last three construction projects, Trump opted to purchase his steel and aluminum from Chinese manufacturers rather than United States corporations based in states like Pennsylvania, Ohio, Michigan and Wisconsin.

One major project, the Trump International Hotel in Vegas, went through a series of companies and locations that made it none too apparent that Trump was purchasing his goods through Chinese companies.

According to government documents, the Chinese entity chosen by Trump to provide steel for the Las Vegas property is a holding company called Ossen Innovation Co. Ltd.–formerly known as Ultra Glory International Ltd. That British Virgin Islands entity in turn owns a second holding company called Ossen Innovation Materials Group Ltd., which, through a complex legal arrangement, indirectly owns Ossen Innovation Materials Co. Ltd., and through it, Ossen (Jiujiang) Steel Wire & Cable Co. Ltd., the operating business located in Shanghai. With such layers upon layers of corporate shells and divisions, builders like Trump can purchase their steel from less-expensive Chinese suppliers without the ultimate supplier being readily apparent. That steel was then used in the construction of the Las Vegas property.

Trump apparently purchased Chinese steel for the International Hotel in Chicago as well.

For the Chicago project, tracing the metal back to China is once again a difficult process. To construct the exterior panels, Trump hired an entity called Permasteelisa Cladding Technologies Ltd., which is based in Connecticut. That company, in turn, is a division of Permasteelisa North America Corp., which, despite its name, has been identified by the American government as an importer of steel, aluminum and other metals from its affiliated companies, Permasteelisa South China Factory and Permasteelisa Hong Kong Limited.

Eichenwald estimates that due to Trump’s choice of going with Chinese steel in Chicago, American companies lost out on more than $350 million dollars. A shame when you consider that some metal producing American companies are going out of businesses due to China willing to taking a loss on their sales in order to drive American companies under.

There’s also another danger in working with Chinese metal producers. It strengthens their government.

When Americans like Trump purchase their steel through Ossen, they are providing financial benefits to an array of Chinese companies and even the government. For example, Ossen corporate records show Chinese banks provide all of its short-term financing in the form of loans that almost all mature after one year, and then are replaced by new loans; most Chinese banks are arms of the state, tightly controlled by the Chinese Communist Party, and provide financing to companies that are competitors to American manufacturers in other industries.

In short, Trump bypassed the blue color workers and American businesses he claims to champion in order to pocket more cash by buying from the Chinese businesses and government he rails against.

The post Trump Chose to Use Chinese Steel Over American Giving Them Millions of Dollars appeared first on RedState.

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  • you are nothing but a clinton crime family troll. stop posting bs.
    truth to tell is that the usa steel industry was sold out by clinton/bush nafta deals. you know it. i know it.
    you are being monitored.

  • According to information I have received America has been selling out all of our 1st line of steel , metals , coal , and goods to China . They are sending us their 2nds and 3rds . The reason being was so the Muslim in the white house could pay the money back that He borrowed from them . Then to go along with that he was selling Chicago homes and building for pennies on a dollar to them . Then he started up the salvage metals to send to them . This drove thieves wild . They were cutting copper pipes out of homes , catalytic converts from cars , ac units from outside of homes , brass containers from grave yards and any thing that was not nailed down . The objects that were nailed down or secured they brought battery operated saws alls , drills , bolt cutters and blow torches to take care of them . All because the idiot or Muslim in our white house helping take America down drove us into debt 20 trillion dollars . The product quality of all goods in America now are 2nds and 3rds and are coming from other countries . Who would want 2nd or 3rd grade material supporting a building ? The liberals want you to focus on the small picture . But the big picture needs to come into play in order to keep America 1st with AAA credit . Because of this idiot we are nowjust AA . We lost an A . This is why Russia and China challenged us for head money system placement of the world . Right now the dollar hold number 1 spot . But now because of the idiot liberals China is supposed to be taking our place as world money . I just want to give all you idiot liberals all the credit for America not being great anymore ! You have trashed our morals , made treason against our Constitution and worst of all departed from GOD . You may have gotten by with the first 2 but the last one ( GOD ) you won’t get by with HIM ! I pray that GOD deal with every evil entity that is now and has been and will be trying to destroy America . I pray GOD allow them to eat the fruit they have planted . I pray HE expose their evil intentions to the world . I pray if they are able to change then change them . If they won’t or don’t , destroy them !

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