Cleveland Cliffs Inc (CLF)

[DewDiligence]

USMCA is somewhat bullish for CLF-AKS and its automaker customers:

https://www.wsj.com/articles/from-farms-to-silicon-valley-u-s-businesses-stand-to-gain-from-usmca-11576008127

USMCA contains new rules aimed at steering more investment and jobs to the U.S. auto industry. When the deal comes into full effect, 75% of the value of completed cars and trucks—and of core parts such as engines, bodies and axles—must originate in North America to qualify for duty-free treatment. Nafta requires 62.5% of a completed vehicle’s value comes from the region.

The new agreement also requires 40% of a car’s value and 45% of a light truck’s be manufactured in North American facilities where salaried workers are paid an average of at least $16 an hour. That essentially is a mandate for auto makers to locate some manufacturing in the U.S. or Canada over Mexico, where workers at assembly plants were paid less than $8 an hour in 2017…