Gadchiroli pitched as Maharashtra’s future green steel hub India set to drive next global steel demand wave Italy crude steel output rises 3.1% in May Green steel progress remains slow worldwide
Shares of Cleveland-Cliffs (NYSE: CLF) dropped nearly 7% this week as the U.S. and Mexico moved closer to a deal that could ease longstanding steel tariffs. The proposed agreement would allow a fixed volume of Mexican steel to enter the U.S. either duty-free or at reduced rates, with tariffs reimposed on shipments exceeding the quota.
This potential policy shift rattled the U.S. steel sector. Investors reacted swiftly—Cleveland-Cliffs fell around 6.5%, Nucor lost about 4%, and U.S. Steel declined slightly. The changes could weaken the protective tariff structure that has supported U.S. producers since the Trump administration.
Mexico, currently the third-largest exporter of steel to the U.S., stands to benefit under the proposed cap-and-quota system. However, industry stakeholders are voicing concerns over possible loopholes that might allow steel from other countries to enter the U.S. through Mexico.
While the agreement has yet to be finalized, the market impact is already being felt, prompting a fresh look at tariff-sensitive industrial stocks.
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