Wall Street is where the decisions are made about whether to invest in domestic steel production or whether to direct corporations to import more steel. (2014)

Wall Street is where the decisions are made about whether to invest in domestic steel production or whether to direct corporations to import more steel. (2014): > "U.S. steel imports increased from 28.5 million net tons in 2011 to 32.0 million net tons in 2013, an increase of 12.3 percent. Imports have increased not only in absolute terms, but also relative to domestic production and consumption, seizing more of the U.S. market and thwarting the domestic industry’s efforts to recover from the Great Recession... The import surge has depressed domestic steel production and revenues, leading to sharp declines in net income in the U.S. steel industry over the past two years (2012–2013), layoffs for thousands of workers, and reduced wages for many more." https://www.epi.org/publication/surging-steel-imports/ https://www.epi.org/publication/surging-steel-imports/ Note this hides the real level of steel imports, since a lot of steel goes into things like imported vehicles, which are counted separately. For example, the Ford Focus (2017): https://www.nytimes.com/2017/06/20/business/ford-focus-china-production.html https://www.nytimes.com/2017/06/20/business/ford-focus-china... > "Last year, the company said it planned to shift Focus production to a plant under construction in Mexico, primarily because of lower labor costs... Ford’s head of global operations, Joe Hinrichs, said the company would save $1 billion by building the Focus in China instead of Mexico."