Canada Threatens Forced Sale of Cleveland-Cliffs Assets Over Planned Stelco Layoffs
Canadian Industry Minister Mélanie Joly said that the American steelmaker Cleveland-Cliffs could be forced to sell its Canadian assets if it cuts up to 500 employees at Stelco. Ottawa cites job-preservation commitments made when Stelco was purchased in 2024 under the Investment Canada Act. Cleveland-Cliffs CEO Lorenzo Goncalves called the government's actions 'bullying' and attributed the layoffs to Trump administration tariffs.
Dilnoza Rahimova