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Luis Garicano: US steel CEO admits buying Canadian plant to block Steelco competition

Luis Garicano: US steel CEO admits buying Canadian plant to block Steelco competition
US steel CEO blocks Steelco, 500 jobs lost

A U.S. steel company CEO said on television that he acquired a steel plant in Canada because he could not afford to let Steelco flood the market in the United States. Luis Garicano reported that this action has so far resulted in 500 job losses at the Canadian facility.

Garicano has previously examined the impact of regulatory measures in other sectors. In an earlier report, he said rent control in Madrid and Barcelona led landlords to screen renters, excluding vulnerable groups from the rental market. The assessment focused on changes in landlord behavior following new regulations.

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