Why Cleveland-Cliffs Stock Was Rising Today

Shares of steel producer Cleveland-Cliffs (CLF 11.60%) were moving higher today as steel stocks jumped broadly after President Trump said on Sunday that he would impose 25% tariffs on all steel and aluminum imports to the U.S. The news was seen as a positive for U.S. steel producers like Cleveland-Cliffs as it should lead to less competition and higher prices.As of 9:45 a.m. ET, the stock was up 14.1% on the news. The trade war heats upEconomists and investors are generally against trade wars and tariffs, b ...