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Why Steel Tariffs are Necessary
Steel tariffs have long played a crucial role in protecting the U.S. economy, national security, and industrial base from the adverse effects of global steel overproduction. Without strong enforcement of steel tariffs, the steel industry in the United States faces an unfair playing field that can lead to plant closures, job losses, and a weakened supply chain.
For decades, foreign producers, often backed by government subsidies, have flooded international markets with artificially cheap steel, undercutting American manufacturers and threatening domestic jobs. These violators of fair trade also employ currency manipulation and weak environmental regulations or lack of enforcement of them.
Cliffs Company-Wide “Buy American” Automotive Incentive Program
“If you want to do well for the American people, companies need to produce and manufacture in America and people need to buy things that are made in America. We are pleased to do our part to support President Trump’s "America-First” agenda. It serves as a recognition that our employees, as American consumers, will help power the resurgence of domestic manufacturing. We hope that other companies will follow suit and do their part to incentivize consumption of American-made products.”
Mr. Goncalves discussed the “Buy American” Automotive Incentive Program rolled out for Cliffs employees.
Watch Press Conference on YouTube
Lourenco Goncalves CNBC interview about steel tariffs
Cleveland-Cliffs Chairman, President & CEO Lourenco Goncalves visited the CNBC's "Squawk on the Street" studio to discuss steel trade tariffs and strengthening the domestic steel industry in the U.S.. The interview is available on CNBC's YouTube channel.
Watch Interview on YouTube