Steel Company At Center Of Trump’s Tariffs Push Announces Layoffs

Workers at U.S. Steel received bad news today.

NBC News reports:

The Westin

United States Steel will temporarily lay off workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with the State of Michigan.

In a Worker Adjustment and Retraining Notification filed on August 5, the Pittsburgh-based company said it expects to let go fewer than 200 workers following its decision to halt production at the Michigan facility.

In mid-June, the company said it would idle two blast furnaces at its Great lakes and Gary Works plants, citing lower steel prices and softening demand.

U.S. Steel said the lay-offs at the Michigan plant could last beyond six months. They will impact nearly every area of the facility, from blast furnace to finishing operations, a company spokeswoman told Reuters.

The lay-offs call into question claims President Donald Trump has made about the resurgence of the domestic steel industry. Last week in Pennsylvania, Trump said his 25% tariff on foreign imports has turned a ‘dead’ business into a ‘thriving’ enterprise.

Domestic steel prices did rise in the immediate aftermath of Trump’s tariffs. But they have fallen dramatically amid improved supplies and weakening demand from the auto and farm machinery sectors.

Prices of hot-rolled coil are down nearly 37% from their 2018 peak.”

For the rest of the story, visit NBC News here.

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