Marlin Steel CEO Drew Greenblatt reveals why now is an ‘optimistic’ time for U.S. factory workers and discusses President Donald Trump’s potential to strike ‘fabulous’ deals with Mexico and Canada.
While some headlines fret over a weak jobs report, Marlin Steel CEO Drew Greenblatt sees something else entirely — a once-in-a-generation boom in American manufacturing that the media is missing.
“This is a re-industrialization of America. This is a fabulous, optimistic time,” Greenblatt told Fox & Friends Weekend on Sunday.
“[And] the mainstream media is missing what’s happening. It’s such an optimistic, good time for a factory worker, and these are good jobs… we need more of these jobs in our country,” he continued, tying the outcomes to President Donald Trump’s tariff structure, which he sees as reversing the long-standing trend of foreign dumping and offshoring.
LIZ PEEK: TRUMP’S MAJOR TRADE WINS COULD BE ROCKET FUEL TO US ECONOMY
Kellen Contee, a welder at Marlin Steel Wire in West Baltimore, works on a steel basket for automotive uses. (Kenneth K. Lam/The Baltimore Sun/Tribune News Service via Getty Images)
Greenblatt expects overseas companies to start building inside the U.S. — a shift already underway, he argued.
“We’re having a new opportunity for factories in Germany, factory owners in Japan and England, they’re saying, ‘You know what? We’ve got to rethink this. We have high taxes where we are. We have very expensive energy where we are. And now, when we ship to our biggest client in the world, America, there’s this new 15% tariff, so this is crazy.
“We’re not going to build in Europe anymore. We’re not going to build it in Japan anymore. We’re going to put that factory in America,’ and, when they do that, they’re going to hire local American workers,” he said.
BILL MAHER ADMITS HE WAS WRONG ABOUT TRUMP ON TARIFFS, DOESN’T ‘SEE A COUNTRY IN A DEPRESSION AT ALL’
Drew Greenblatt, president and owner of Marlin Steel Wire Products, in Baltimore, Maryland, US, on Thursday, March 14, 2024. (Andrew Magnum/Bloomberg via Getty Images / Getty Images)
Moving those jobs to U.S. soil means more opportunity for everyone from box makers to basket welders.
Greenblatt is putting his money where his mouth is by “leaning into” the optimism for the future by hiring talent, buying new equipment and growing Marlin Steel’s active manufacturing locations in Indiana, Michigan and Maryland.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Morgan Stanley Wealth management CIO Lisa Shalett joins ‘Barrons Roundtable’ to analyze the current market outlook for investors after the jobs report.
More countries are expected to negotiate trade deals ahead of President Trump’s Thursday deadline for steep reciprocal tariff increases.
A handful of nations have secured trade agreements with the Trump administration thus far, including last week’s major deal with the European Union.
