Sucker punched by massive, illegally subsidized imports, American steel producers laid off thousands of workers in bedrock communities from Ohio and Illinois to Texas and Alabama. That's in just the past three months.
In the depth of the recession, some foreign countries made a simple calculation. They'd subsidize their steel industries even though that violates international trade rules. It paid off by keeping their citizens employed, paid and fed.
The death of the American steel industry is fine with the likes of the Wall Street Journal, Forbes and the Cato Institute. They say Americans should thank foreign states that violate international trade laws by subsidizing their steel industries.