A Michigan steel plant annnounced it's closing at the end of the year, while U.S. Steel stocks are down 75 percent since Trump's tariffs were announced.
Trump's steel protectionism seems to have failed. Again.
Who could have seen that coming? Well, lots of people did—but the U.S. International Trade Commission and President Trump didn't listen.
The biggest American steelmaker says there has been reduced demand for their products in recent months, probably because they raised prices after Trump slapped tariffs on foreign steel.
But working-class identity politics threaten to ruin everything.
This American Metalworking Company Is Already Paying Up to 30 Percent More for Steel Thanks to Trump's Tariffs
"Those are traumatic increases. They are shocks to our system," says Mike Schmitt, CEO of The Metalworking Group, an Ohio-based manufacturer.
John Stossel says voluntary, free trade improves lives.