Cleveland Cliffs Inc (CLF)

[DewDiligence]

Today’s modest sell-off may have been triggered by this opinion piece from Iowa’s Sen. Grassley:

https://www.wsj.com/articles/trumps-tariffs-end-or-his-trade-deal-dies-11556479697

I’ve met with congressional colleagues, as well as U.S., Canadian and Mexican trade officials, to discuss how our nations will secure legislative approval of USMCA. A significant roadblock is the administration’s tariffs on steel and aluminum and retaliatory Canadian and Mexican tariffs on U.S. products. These levies are a tax on Americans, and they jeopardize USMCA’s prospects of passage in the Mexican Congress, Canadian Parliament and U.S. Congress. Canadian and Mexican trade officials may be more delicate in their language, but they’re diplomats. I’m not. If these tariffs aren’t lifted, USMCA is dead. There is no appetite in Congress to debate USMCA with these tariffs in place.

Emphasis added.