Watch the interview with Rosemary Barton, the CEO of Cleveland-Cliffs is barely able to conceal the bullshit he is spinning.
He bought Stelco to raise prices of Canadian steel to make his US assets more profitable. He says it directly and through the language of Maga. That is all, now he’ll nuke Canadian production to benefit his other assets.
He will rehire those employees if Canada reaches a deal with US on steel. Blackmail. Foreign threats.
Another thing about that interview: he continually uses Algoma Steel’s shutdown of its old furnace and the accompanying loss of jobs in an attempt to justify his actions . . . but they’ve been planning to shut that furnace down since the Biden administration (they built a new, less-polluting electric arc furnace that doesn’t require as many personnel to replace it). The tariffs moved the timetable up by a year, but those jobs were always going to go away, and everyone (including the union) knew it. The workers had time to plan and received some supports to retrain or find a new job. Completely different situation from Stelco. So anything he says about that is just blowing smoke.
Watch the interview with Rosemary Barton, the CEO of Cleveland-Cliffs is barely able to conceal the bullshit he is spinning.
He bought Stelco to raise prices of Canadian steel to make his US assets more profitable. He says it directly and through the language of Maga. That is all, now he’ll nuke Canadian production to benefit his other assets.
He will rehire those employees if Canada reaches a deal with US on steel. Blackmail. Foreign threats.
Label the company an American asset and seize it.
Another thing about that interview: he continually uses Algoma Steel’s shutdown of its old furnace and the accompanying loss of jobs in an attempt to justify his actions . . . but they’ve been planning to shut that furnace down since the Biden administration (they built a new, less-polluting electric arc furnace that doesn’t require as many personnel to replace it). The tariffs moved the timetable up by a year, but those jobs were always going to go away, and everyone (including the union) knew it. The workers had time to plan and received some supports to retrain or find a new job. Completely different situation from Stelco. So anything he says about that is just blowing smoke.