On CNBC on Thursday, U.S. Commerce Secretary Howard Lutnick appears to have said the Trump administration prevented the complete closure of Granite City Works.
Lutnick called the newly acquired U.S. Steel’s plans to “close one of the plants” — presumably Granite City Works — “nonsense.”
“The idea of making people live to what they say is a smart way to do it,” Lutnick said.
The U.S. Steel-Nippon deal included a “ golden share ” that gives the federal government the authority to appoint a company board member and a say in decision making on domestic steelmaking.
The secretary’s brief remarks amount to the first public comments the Trump administration has made regarding the fate of the Metro East mill since approving the $14 billion sale of U.S. Steel to the Japanese firm Nippon.