Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
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.
Also Read : Trump pledges to halt Nippon's acquisition of U.S. Steel Nippon Steel Finalizes $14.9 Billion Acquisition of U.S. Steel
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