“It has been a tough year for the steel industry,” Tom Gibson, the president and CEO of the American Iron and Steel Institute, told reporters in a conference call last November. In fact, while global steel production fell 2.8% in 2015, steel output in the U.S. plummeted by 10.5%. Earlier that day, Gibson and leading steel executives had met with Obama administration officials to “impress on them the urgency of the crisis” and urge them to use all the tools at their ...

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