Wednesday December 18, 2019
Donald Trump “Look what I’ve done for steel. I mean, the steel is back. We taxed all the dumb steel coming in from China and other places, and US steel mills are doing great — they’re expanding all over the country, and they were gonna be out of business within two years the way they were going.”
Friday December 20, 2019:
US Steel is closing a mill in Zug Island, near Detroit, laying off workers and cutting its dividend. The troubled company is trying to reverse operating losses it now forecasts for the fourth quarter. The mill, called the Great Lakes Works, is expected to close its iron and steel-making operations by April 1. The part of the mill that rolls slabs into sheets of steel will shutter by the end of next year. About 1,500 jobs will be lost, the company said. US Steel had already announced a temporary layoff of about 200 workers at the plant earlier this year.
Well, almost without comment: Merry Christmas Zug Island! From Donald Trump.