The tariff strategy was not enough to preserve the jobs of 1,500 steel workers in the Detroit area who are being laid off by U.S. Steel.
The Great Lakes Works in Ecorse and River Rouge, Mich., will have three portions of its operations drawn down with iron and steelmaking operations ceased by April 1.
The company also reported a reduction in its dividend after reporting in October its first quarterly loss since the implementation of the tariffs in 2018.
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