Cleveland-Cliffs Applauds the Trump Administration for Taking Action on Steel Imports
March 01 2018 - 4:10PM
Business Wire
Cleveland-Cliffs Inc., (NYSE: CLF) the largest
merchant supplier of iron ore pellets to the United States steel
industry, today issued the following statement regarding President
Trump’s announcement of tariffs of 25 percent on steel imported to
the United States.
Lourenco Goncalves, Cliffs' Chairman, President and Chief
Executive Officer, said, ”We applaud and thank President Trump for
taking real action under Section 232 to punish the perpetrators and
enablers of unfairly traded steel. The 25 percent tariffs to be
imposed next week will support our ability to continue to produce
iron ore pellets and steel in our country, enhancing a vibrant
manufacturing economy and our national security. Artificially cheap
steel boosted by subsidies, dumping and circumvention are not signs
of competitiveness; these are just signs of blatant disregard to
real free trade and to our trade laws. Once free from these unfair
practices, we will finally have a level playing field for steel in
the United States. Going forward, we expect that the Administration
will fully enforce the announced actions, making sure that the
offenders, particularly the enablers within our borders, will be
treated as seriously as they deserve.”
About Cleveland-Cliffs Inc.
Founded in 1847, Cleveland-Cliffs Inc. is the
largest and oldest independent iron ore mining company in the
United States. We are a major supplier of iron ore pellets to the
North American steel industry from our mines and pellet plants
located in Michigan and Minnesota. Additionally, we operate an iron
ore mining complex in Western Australia. By 2020, Cliffs expects to
be the sole producer of hot briquetted iron (HBI) in the Great
Lakes region with the development of its first production plant in
Toledo, Ohio. Driven by the core values of safety, social,
environmental and capital stewardship, our employees endeavor to
provide all stakeholders with operating and financial transparency.
For more information, visit http://www.clevelandcliffs.com.
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Cleveland-Cliffs Inc.MEDIA CONTACT:Patricia Persico,
216-694-5316Director, Corporate CommunicationsorINVESTOR
CONTACT:Paul Finan, 216-694-6544Director, Investor
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