United States Steel Corp is temporarily cutting nearly 200 jobs from its Michigan plant amid low prices and soft demand for steel.
The company filed a Worker Adjustment and Retraining Notification on Aug. 5, predicting that it would lay off less than 200 workers at its Great Lakes manufacturing facility, according to Reuters.
The Pittsburgh based company said the layoffs could last up to half a year as it waits for demand to rise. It cited poor demand in the U.S. steel market as the primary reason for cutting costs and production.
U.S. Steel may lay off more workers at a facility in Indiana, though the company has denied such claims.
President Trump has taken steps to insulate the U.S. steel industry from foreign competitors, imposing a 25% tariff on imported steel. In July, Trump signed an executive order mandating that 95% of steel used in federal infrastructure projects be American made.
Despite the advantageous policies for steelmakers, U.S. Steel’s stock price has fallen over 70% since Trump announced the tariffs on steel imports in March 2018.
