"UAW Strike and Layoffs Shake Steel Industry in Detroit"
The U.S. steel industry is being impacted by the United Auto Workers' strike against Detroit's Big Three automakers, with steel prices falling and companies reducing production. The strike has caused the temporary shutdown of a furnace at a United States Steel Corp. plant, and if prolonged, more shutdowns could follow. Currently, around 25,000 UAW members are on strike, but the union has not ruled out expanding the strike nationwide. The strike has already cost General Motors around $200 million, and suppliers are also being affected. Data shows that the strike has cost the U.S. economy nearly $4 billion in its first two weeks.