A tale of 2 steel making countries.
🇺🇸
✅ TODAY: Mesabi Metallics – New Iowa plant, $15B investment, 1,750 new jobs, 5,000 construction jobs, $92B economic impact in 10 years.
✅ Hyundai Steel – New Louisiana plant, $6B investment, 1,300 new jobs.
✅ Nippon Steel – Acquires US Steel, $14M investment to expand facilities.
🇨🇦
❌ TODAY: Stelco – Indefinite shutdown, 350 jobs lost. "Survival mode"
❌ Algoma – 40% work force cut, 1,000 jobs lost. Losing over a million dollars a day despite billions in government support. "Dire"
❌ Carney – “Right decision to suspend negotiations with the US!”
😬 He’s made everything worse and he's just getting started.