Chinese Trade Woes Blamed For Shutdown

Chile's Largest Steel Plant Suspends Operations

Chinese Trade Woes Blamed for Shutdown

Chile's largest steel plant, WEB, announced on Wednesday that it had suspended operations due to China suspending its import trade. WEB is located in northern Chile and produces about 40% of the country's steel. The plant employs about 2,000 workers.

The suspension of operations at WEB is a major blow to the Chilean economy. Steel is a key input for many industries, including construction, manufacturing, and transportation. The shutdown of WEB is expected to lead to job losses and economic hardship in the region.

The Chilean government is working to help WEB resume operations as soon as possible. The government has offered financial assistance to the plant and is working to negotiate with China to resume its import trade.