Tariffs mean $1,000 annual bonus for these employees

By Economic IndicatorsFOXBusiness

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North American steel pipe and tube manufacturer Zekelman Industries will reward all of its employees with a $1,000 annual bonus as soon as President Trump’s steel tariffs take effect. These bonuses will repeat each year, as long as the tariffs remain in place.

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“The policies announced today will have a tremendous positive impact on our ability to compete and thrive. The playing field is being leveled and WE WILL WIN IN A FAIR FIGHT,” the company said in a letter to its employees last Thursday.

Chicago-based Zekelman sent a letter about the bonus to its 2,300 employees.

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On Thursday, President Trump said that the administration will implement stiff tariffs on imported steel and aluminum after the Commerce Department’s Section 232 investigation found that the domestic steel industry has been harmed from cheap imports stemming from unfair trading practices.