ECORSE/RIVER ROUGE, Michigan (Reuters) – Some steelworkers who cheered U.S. President Donald Trump’s tariffs on foreign steel last year are now being laid off, an unintended consequence of his America First policy as United States Steel Corp (X.N) reacts to sagging demand from automakers reeling from higher steel prices.
An entrance to the U.S. Steel Great Lakes Works plant is seen in Ecorse, Michigan, U.S., September 24, 2019. Picture taken September 24, 2019. REUTERS/Rebecca Cook
Steel prices rallied following the tariffs imposed in March, 2018, feeding optimism in U.S. steel towns. But higher prices later hurt demand from automakers already squeezed by slowing demand for traditional gasoline-powered sedans.
Trump’s tariffs still enjoy support in the Rust Belt communities that helped elect him in 2016. But U.S.