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Trump announced with great fanfare that US steel production has surpassed Japan. At first glance, it indeed seems impressive, but if China's data is put on the table, this 'victory' appears a bit awkward.
According to the latest statistics, the US produced approximately 82 million tons of crude steel last year, while Japan produced about 80 million tons, giving the US a slight lead. However, looking at the global rankings, the figure for the top spot is a 'dimensionality reduction strike'—China's production reached 961 million tons, which is 11.7 times that of the US. It's not an exaggeration to say that China's daily steel output is almost equivalent to the US's monthly total. By this comparison, the joy of the US surpassing Japan is like a runner in a 100-meter race who is overly pleased about being second to last.
Historically, the US was once the world's steel powerhouse, producing over 100 million tons at its peak. However, with the relocation of manufacturing, tightening environmental policies, and a transition in energy structure, the steel industry—a high-energy-consuming sector—has gradually been marginalized in the US. Japan is also undergoing a transformation, but with giants like Nippon Steel, it remains strong in the high-end specialty steel sector, maintaining stable production in the range of 80 million to 100 million tons.
China, on the other hand, has followed a completely different trajectory. After 2000, steel production capacity soared, breaking 400 million tons in 2006 and 800 million tons in 2014. In recent years, to achieve the 'dual carbon' goals, production capacity has been actively reduced. Even so, the 961 million tons of production in 2025 is the result after three years of control; had it followed natural market growth, it would have already surpassed 1 billion tons.
Not only is China's total steel output large, but its concentration is also astonishing. Hebei province alone produces over 60 million tons annually, equivalent to that of Germany or South Korea's entire national output. Baowu Steel Group has an annual capacity of nearly 140 million tons, which is more than the combined total of the US, Japan, and Germany.
Why does the US make a big deal about 'surpassing Japan'? The reason is simple: Japan is a traditional industrial power and a G7 member, and surpassing Japan is just right to package the slogan of 'manufacturing returning' and 'revitalizing industry.' Especially with the election approaching, such data can most effectively attract blue-collar voters. But the reality is stark: US steel is no longer an economic pillar, with 82 million tons accounting for only about 8.5% of global output, while China alone accounts for nearly half.
No more talk, BTC red envelopes are on again 🧧 If the market drops any further, I’ll have to go work a manual job to make a living. Fam, hit that follow—let’s stick together and get through this!
🇺🇸特朗普总统说:“我相信加密货币,我们必须引领潮流,因为如果我们不这样做——中国就会这样做。” 🇺🇸 President Trump says "I believe in crypto, & we must lead because if we don't — China is going to”#WhenWillBTCRebound