Why Cleveland-Cliffs Stock Soared This Week

Group 1 - Cleveland-Cliffs shares have increased by 28.8% this week, benefiting from the rise in the S&P 500 and Nasdaq-100 [1] - The Trump administration has raised tariffs on foreign steel from 25% to 50%, with the exception of steel from the U.K., which will incur a 25% charge [2] - American steel manufacturers, including Cleveland-Cliffs, will see their products become more competitively priced due to these tariffs [3] Group 2 - The sustainability of Cleveland-Cliffs' benefits from tariffs is uncertain, as tariff policies can change rapidly and unpredictably [5] - Cleveland-Cliffs has struggled financially, barely turning a profit in 2023 and experiencing losses in most quarters, with only one quarter showing a minimal profit of $2 million on $5 billion in sales [6]