Fact Checker President Trump announces a major U.S. Steel expansion -- that isn't happening

[DonViejo]

By Glenn Kessler
June 28 at 3:00 AM

“The head of U.S. Steel called me the other day, and he said, ‘We’re opening up six major facilities and expanding facilities that have never been expanded.’ They haven’t been opened in many, many years.”
— President Trump, roundtable with American workers, Duluth, Minn., June 20, 2018

“U.S. Steel just announced they’re expanding or building six new facilities.”
— Trump, remarks at the White House, June 26

“I’ve been hearing that from steel companies, and in particular from U.S. Steel, where I was with the president, as I said. And he — they’re just talking about opening plants now, and so many things have changed.”
— Trump, roundtable on tax reform, Cleveland, May 5

U.S. Steel is a publicly traded company, so it is supposed to disclose materially important information. The opening of six major facilities and the expansion of even more would be huge news.

Yet all U.S. Steel has announced is that it will restart two blast furnaces and steelmaking facilities at the company’s Granite City Works integrated plant in Illinois — one in March and the other in October. The reopening of the first blast furnace was announced in March, resulting in 500 jobs, and the second was announced in June, adding 300. The plant had been closed since 2015.

The Facts

-snip-

The Pinocchio Test

This should be easy to clear up: Either the president of U.S. Steel tipped market-moving information to the president of the United States, or he did not. Interestingly, the securities markets have not reacted at all to the president’s disclosure; U.S. Steel’s stock fell the day after Trump made his comments about six new facilities, and it has continued to decline.

Perhaps that means the stock market puts a low premium on the president’s statements. Here at The Fact Checker, we award Four Pinocchios.

Four Pinocchios



https://www.washingtonpost.com/news/fact-checker/wp/2018/06/28/president-trump-announces-a-major-u-s-steel-expansion-that-isnt-happening/?utm_term=.3ba0dc4c43d8&wpisrc=nl_politics&wpmm=1

[Eyeball_Kid]

1. Trumpy is building his Potemkin Presidency. n/t

[Cha]

2. Of COURSE he does.. that Pathological LIAR

is Pinnochioed OUT.



The WaPo should call him on every single LIE.. he'd have thousands of Pinocchios Now.. filling pages and pages.

[greatauntoftriplets]

3. There aren't enough Pinocchios in the word to keep up with drumpf's lies.

[eShirl]

4. are we Russia yet?

[Runningdawg]

5. Yep

No bodies from NK yet AND they are repairing a nuke facility. About what I expected.