The mill, called the Great Lakes Works, is expected to close its iron and steelmaking 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.
The company and the rest of the domestic steel industry were supposed to get help from a 25% tariff on steel imports put in place in 2018 by the Trump administration. But after a short-term rise in steel prices, they have retreated and problems have returned to the industry.The company also announced it is cutting its dividend by 80% to 1 cent a share. Shares of US Steel were down 7% in premarket trading.
Got to love all this winning.
bennyr82 This must be some of that fake news I keep hearing about because Donald Trump promised steel was going to thrive if he was elected President!
What happened to Make America Great Again tho? (MAGA) realDonaldTrump nah just make everything terrible again!
I feel very sad for these people loosing their jobs. Please persevere and don't give up.😔😔
Amazing, CNN is now attacking the economy the greatest economy we’ve had in 50 years the greatest for African-Americans the greatest for Hispanics and everyone else wages way up. So CNN is going after trumps economy now shame on you CNN how low can you go
MAGA
Left cheering over reduction in carbon emissions muted because opportunity to blame the productive for obama-era bullshit too tempting
IF Hillary or any Dem was running this country right now there would be 1000's of factories having difficulties and closing down instead of a few.
Steel tariffs seem to be working...well, not for Americans.
Where is your false Jesus now?
He is bringing back the chinese steel
I’m sure Trump will blame Obama for this as well.
Because companies that have moved out of this Country for cheaper wages and less taxes. We have to bring Manufacturing jobs back, That's what Trump has been trying to do,
“United Steelworkers union says supports approval of revised USMCA trade deal” I guess nancy and the unions held off too long to save these poor families... I hope they are happy with the 1 year delay for political purposes ... yep always trumps fault .. selective facts first cnn
Oh but i thought we were supposed to have record high jobs & lowest unemployment rate since Trump took office.
But I thought everyone was winning big in this administration.
🤔🤔🤔
President Biden has the solution for those workers below👇👇👇👇👇👇
TrumpAmerica
realDonaldTrump thought you were brought all these jobs to michigan the other day?
But Trump said
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