Canada Threatens Cleveland-Cliffs With Forced Sale of Assets Over Layoff Plans

Canada's Industry Minister, Melanie Joly, has demanded that Cleveland-Cliffs abandon its planned layoffs at two Ontario facilities, citing a breach of commitments from its 2024 acquisition of Stelco. The company has 15 days to comply, or it may face substantial fines or a forced sale of its Canadian assets. Cleveland-Cliffs contends that the layoffs are necessary due to market conditions, including U.S. tariffs, a justification the government has dismissed.