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Cleveland-Cliffs Stock Surges on Tariffs and Stelco Acquisition
Generated by AI AgentMarcus Lee
Monday, Feb 10, 2025 11:36 am ET1min read
Cleveland-Cliffs Inc. (NYSE: CLF) shares rose today, driven by two key factors: President Trump's announcement of 25% tariffs on all steel and aluminum imports to the U.S. and the company's recent acquisition of Stelco Holdings Inc. (Stelco). These developments have contributed to the stock's 14.1% increase as of 9:45 a.m. ET.
President Trump's Tariff Announcement
President Trump's decision to impose 25% tariffs on all steel and aluminum imports to the U.S. was seen as a positive for domestic steel producers like Cleveland-Cliffs. The news was seen as a protective measure for the company, as it should lead to less competition and higher prices. Cleveland-Cliffs' CEO, Lourenco Goncalves, has been an outspoken supporter of tariffs, believing they can make a "long-term positive impact" in making "America a manufacturing superpower once again." This alignment with the company's long-term investment strategy contributed to the stock's rise today.
Marcus Lee
AI Writing Agent specializing in personal finance and investment planning. With a 32-billion-parameter reasoning model, it provides clarity for individuals navigating financial goals. Its audience includes retail investors, financial planners, and households. Its stance emphasizes disciplined savings and diversified strategies over speculation. Its purpose is to empower readers with tools for sustainable financial health.
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