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Business Wire
2 days ago
- Automotive
- Business Wire
Cleveland-Cliffs Applauds New Section 232 Tariff Coverage of Electrical Steel and Stainless Steel Derivative Products
CLEVELAND--(BUSINESS WIRE)--Cleveland-Cliffs Inc. (NYSE: CLF) applauded today's action by the U.S. Department of Commerce to include as derivative products subject to Section 232 steel tariffs electrical steel laminations and cores, as well as certain stainless steel automotive exhaust parts. Following a recent determination under the U.S. Department of Commerce's new Section 232 tariff inclusion process, effective today, steel content in these products will be subject to 50% steel tariffs. Lourenco Goncalves, Cleveland-Cliffs' Chairman, President and Chief Executive Officer, stated: 'Cleveland-Cliffs thanks President Donald Trump and Secretary of Commerce Howard Lutnick for taking decisive and concrete action that will deter tariff circumvention occurring in plain sight with stainless and electrical steel derivative products. Since we acquired AK Steel Corporation a few years ago, we have identified and denounced circumvention schemes through Mexico and Canada involving derivative products using steel melted and poured outside of North America. This practice, which has been accepted and supported by both Canada and Mexico -- despite its inherent conflict with the original intent of the USMCA trade agreement -- has ultimately turned into a blatant tariff evasion subterfuge. Today's action taken by the Secretary of Commerce gives us certainty that the American domestic market will not be undercut by unfairly traded steel embedded in derivative products. That allows us to continue to invest in our stainless steel operations in Coshocton, OH and Mansfield, OH, as well as in our electrical steel operations in Butler, PA and Zanesville, OH, in support of our domestic clients producing Made in USA cars, appliances, and electrical transformers.' About Cleveland-Cliffs Inc. Cleveland-Cliffs is a leading North America-based steel producer with a focus on value-added sheet products, particularly for the automotive industry. The Company is vertically integrated from the mining of iron ore, production of pellets and direct reduced iron, and processing of ferrous scrap through primary steelmaking and downstream finishing, stamping, tooling, and tubing. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 30,000 people across its operations in the United States and Canada. For more information, visit Forward-Looking Statements This release contains statements that constitute "forward-looking statements" within the meaning of the federal securities laws. All statements other than historical facts, including, without limitation, statements regarding our current expectations, estimates and projections about our industry or our businesses, are forward-looking statements. We caution investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Investors are cautioned not to place undue reliance on forward-looking statements. Among the risks and uncertainties that could cause actual results to differ from those described in forward-looking statements are the following: continued volatility of steel, scrap metal and iron ore market prices, which directly and indirectly impact the prices of the products that we sell to our customers; uncertainties associated with the highly competitive and cyclical steel industry and our reliance on the demand for steel from the automotive industry; potential weaknesses and uncertainties in global economic conditions, excess global steelmaking capacity and production, prevalence of steel imports, reduced market demand and oversupply of iron ore; severe financial hardship, bankruptcy, temporary or permanent shutdowns or operational challenges of one or more of our major customers, key suppliers or contractors, which, among other adverse effects, could disrupt our operations or lead to reduced demand for our products, increased difficulty collecting receivables, and customers and/or suppliers asserting force majeure or other reasons for not performing their contractual obligations to us; risks related to U.S. government actions and other countries' reactions with respect to Section 232 of the Trade Expansion Act of 1962 (as amended by the Trade Act of 1974), the United States-Mexico-Canada Agreement and/or other trade agreements, tariffs, treaties or policies, as well as the uncertainty of obtaining and maintaining effective antidumping and countervailing duty orders to counteract the harmful effects of unfairly traded imports; impacts of existing and changing governmental regulation, including actual and potential environmental regulations relating to climate change and carbon emissions, and related costs and liabilities, including failure to receive or maintain required operating and environmental permits, approvals, modifications or other authorizations of, or from, any governmental or regulatory authority and costs related to implementing improvements to ensure compliance with regulatory changes, including potential financial assurance requirements, and reclamation and remediation obligations; potential impacts to the environment or exposure to hazardous substances resulting from our operations; our ability to maintain adequate liquidity, our level of indebtedness and the availability of capital could limit our financial flexibility and cash flow necessary to fund working capital, planned capital expenditures, acquisitions, and other general corporate purposes or ongoing needs of our business, or to repurchase our common shares; our ability to reduce our indebtedness or return capital to shareholders within the currently expected timeframes or at all; adverse changes in credit ratings, interest rates, foreign currency rates and tax laws; challenges to successfully implementing our business strategy to achieve operating results in line with our guidance; the outcome of, and costs incurred in connection with, lawsuits, claims, arbitrations or governmental proceedings relating to commercial and business disputes, antitrust claims, environmental matters, government investigations, occupational or personal injury claims, property-related matters, labor and employment matters, or suits involving legacy operations and other matters; supply chain disruptions or changes in the cost, quality or availability of energy sources, including electricity, natural gas and diesel fuel, critical raw materials and supplies, including iron ore, industrial gases, graphite electrodes, scrap metal, chrome, zinc, other alloys, coke and metallurgical coal, and critical manufacturing equipment and spare parts; problems or disruptions associated with transporting products to our customers, moving manufacturing inputs or products internally among our facilities, or suppliers transporting raw materials to us; the risk that the cost or time to implement a strategic or sustaining capital project may prove to be greater than originally anticipated; our ability to consummate any public or private acquisition or divestiture transactions and to realize any or all of the anticipated benefits or estimated future synergies, as well as to successfully integrate any acquired businesses into our existing businesses; uncertainties associated with natural or human-caused disasters, adverse weather conditions, unanticipated geological conditions, critical equipment failures, infectious disease outbreaks, tailings dam failures and other unexpected events; cybersecurity incidents relating to, disruptions in, or failures of, information technology systems that are managed by us or third parties that host or have access to our data or systems, including the loss, theft or corruption of our or third parties' sensitive or essential business or personal information and the inability to access or control systems; liabilities and costs arising in connection with any business decisions to temporarily or indefinitely idle or permanently close an operating facility or mine, which could adversely impact the carrying value of associated assets, trigger contractual liabilities or termination costs, and give rise to impairment charges or closure and reclamation obligations, as well as uncertainties associated with restarting any previously idled operating facility or mine; our ability to realize the anticipated synergies or other expected benefits of the acquisition of Stelco, as well as the impact of additional liabilities and obligations incurred in connection with the Stelco acquisition; our level of self-insurance and our ability to obtain sufficient third-party insurance to adequately cover potential adverse events and business risks; uncertainties associated with our ability to meet customers' and suppliers' decarbonization goals and reduce our greenhouse gas emissions in alignment with our own announced targets; challenges to maintaining our social license to operate with our stakeholders, including the impacts of our operations on local communities, reputational impacts of operating in a carbon-intensive industry that produces greenhouse gas emissions, and our ability to foster a consistent operational and safety track record; our actual economic mineral reserves or reductions in current mineral reserve estimates, and any title defect or loss of any lease, license, option, easement or other possessory interest for any mining property; our ability to maintain satisfactory labor relations with unions and employees; unanticipated or higher costs associated with pension and other post-employment benefit obligations resulting from changes in the value of plan assets or contribution increases required for unfunded obligations; uncertain availability or cost of skilled workers to fill critical operational positions and potential labor shortages caused by experienced employee attrition or otherwise, as well as our ability to attract, hire, develop and retain key personnel; and potential significant deficiencies or material weaknesses in our internal control over financial reporting. For additional factors affecting the business of Cliffs, refer to Part I, Item 1A. Risk Factors of our Annual Report on Form 10-K for the year ended December 31, 2024, and other filings with the U.S. Securities and Exchange Commission.
Hype Malaysia
04-07-2025
- Entertainment
- Hype Malaysia
2 New Drops From Saucony & New Balance Serve Scales, Camo & Epic Tech!
Fresh styles are landing, and these latest drops from Saucony and New Balance are turning heads for all the right reasons. With bold details, premium builds, and serious comfort, they're set to be solid picks for your next sneaker upgrade. Saucony Progrid Omni 9 'Glowaconstrictor' The Saucony ProGrid Omni 9 just got a venomous new makeover, and it's shedding all expectations. Dubbed the 'Glowaconstrictor,' this scaly stunner slithers in with an iridescent mesh upper, glossy green overlays, and sculptural golden trim that looks straight out of a snake charmer's treasure chest. Add in a matte black sockliner and you've got a silhouette that's both luxe and lethal. The design blends early 2010s running tech with modern reptilian glam. Saucony's signature Progrid cushioning ensures you're not just flexing looks, but feeling the support with every step. Dual-layered mesh and lace-lock hardware round out the build, reinforcing structure without sacrificing that futuristic edge. But the serpent doesn't stop at just one skin. To celebrate the Year of the Snake, Saucony is dropping a full 'Glowaconstrictor' pack in three wild colourways: green, blue and purple. Each one comes with that signature scaly texture and iridescent shimmer, ready to turn heads from the street to the track. Whether you're into bold colours or just love a statement sneaker, there's a snake to match your style. The Saucony ProGrid Omni 9 'Glowaconstrictor' Pack slithers onto shelves later this year, available at Saucony and select retailers nationwide. Stay tuned for the official drop date and pricing. New Balance 992 Made In USA 'Dark Camo' New Balance is turning heads with the upcoming 992 Made in USA 'Dark Camo.' This version of the classic sneaker features earthy tones and sleek textures, made with premium suede and mesh. It's subtle and bold at the same time, perfect for anyone who likes their style low-key with just the right amount of edge. Designed under the creative direction of Aimé Leon Dore's Teddy Santis, the sneaker is part of NB's coveted Made in USA line. It retains all the legacy details that made the 992 a cult favourite since its 2006 debut, including ABZORB SBS cushioning for next-level comfort, TS2 support for stability, and N-durance rubber outsoles built to last. In short, it's old-school tech wrapped in fresh-out-the-box luxury. As the 992 continues to enjoy a well-deserved resurgence, the 'Dark Camo' edition proves that New Balance knows how to do subtle statement pieces like no other. It's unisex, elevated, and effortlessly wearable, making it the perfect addition for sneakerheads and normcore icons alike. The New Balance 992 Made in USA 'Dark Camo' will be available later this year at New Balance stores and online. Official price and release date to be announced, so keep your eyes peeled for updates.
Hypebeast
03-07-2025
- Entertainment
- Hypebeast
Teddy Santis 操刀設計 New Balance 992 Made in USA「Dark Camo」率先曝光
New Balance即將於 2025 年推出 992 Made in USA「Dark Camo」配色，由 Aimé Leon Dore 創辦人Teddy Santis操刀設計。 這款男女皆宜的新配色隸屬品牌備受推崇的 Made in USA 系列，致敬 992 作為 2006 年接續經典 991 的傳承之作。「Dark Camo」配色採用頂級材質，保留原始技術特色，包括 ABZORB SBS 緩震系統、TS2 支撐結構與 N-durance 耐磨大底，確保耐用性與舒適度兼備。 此鞋將在今年正式發售，有興趣的讀這們敬請留意。 相關報導 >Hot Wheels 為 Brad Pitt 主演人氣電影《F1》推出 1:64 比例「APXGP」限量賽車模型 >重塑經典！Maha Amsterdam 與 Nike 攜手推出 Total 90 Shox Magia 最新聯名鞋款
Time of India
07-06-2025
- Time of India
2 held with pistols in Ranchi, 2 others on the run
Ranchi: Acting on a tip-off related to sales of arms and ammunition, the police on Saturday conducted a raid near Pahari Mandir in Ranchi and arrested two persons. "The police also seized three country-made pistols and four cartridges from them," DIG cum Ranchi SSP Chandan Kumar Sinha said. Tired of too many ads? go ad free now The arrested persons are Anil Gadhi and Aakash Mirdha. The police said they confessed to being engaged in land deals and wanted to have the pistols and cartridges with them. Sinha said, "Police are trying to nab the persons who provided the weapons to Akash and Anil. One of the country-made pistols with mark Made in USA had a misfired cartridge in its magazine." Sinha said the accused persons had no criminal antecedents. A case was registered under various sections of the Arms Act. Anil and Akash had come to the Pahari mandir to purchase 30 cartridges. Two other accused persons in the case are Akash Kumar Verma and Sandeep Kumar Prasad, wanted for supplying arms are on the run, the police said. Ranchi: Acting on a tip-off related to sales of arms and ammunition, the police on Saturday conducted a raid near Pahari Mandir in Ranchi and arrested two persons. "The police also seized three country-made pistols and four cartridges from them," DIG cum Ranchi SSP Chandan Kumar Sinha said. The arrested persons are Anil Gadhi and Aakash Mirdha. The police said they confessed to being engaged in land deals and wanted to have the pistols and cartridges with them. Sinha said, "Police are trying to nab the persons who provided the weapons to Akash and Anil. One of the country-made pistols with mark Made in USA had a misfired cartridge in its magazine." Tired of too many ads? go ad free now Sinha said the accused persons had no criminal antecedents. A case was registered under various sections of the Arms Act. Anil and Akash had come to the Pahari mandir to purchase 30 cartridges. Two other accused persons in the case are Akash Kumar Verma and Sandeep Kumar Prasad, wanted for supplying arms are on the run, the police said.
Malaysian Reserve
15-05-2025
- Business
- Malaysian Reserve
Excel Dryer: American made and tariff resilient
Hand dryer manufacturer holds prices as top competitors announce increases across full product lines EAST LONGMEADOW, Mass., May 15, 2025 /PRNewswire/ — Excel Dryer, Inc., a family-owned and operated manufacturer of touchless, high-efficiency hand dryers, is benefiting from its longstanding commitment to producing high-quality, American-made products, a strategy that has effectively insulated the company from the impact of import tariffs. 'Excel's mission has always been to design and manufacture quality American-made products that are dependable, and people like to use,' said Executive Vice President and COO William Gagnon. 'It's in our DNA.' XLERATOR® Hand Dryers are the only ones with Made in USA certification, built with parts from domestic supplier partners and manufactured in Massachusetts. As most of the top hand dryer manufacturers have announced price increases on their entire product line due to changing tariff policies, Excel is holding steady on pricing with production uninterrupted. In addition to being tariff resilient, Excel leads the industry in sustainability. A life-cycle study focusing on energy consumption shows Excel dryers provide up to a 94 percent reduction of carbon footprint versus 100 percent recycled paper towels. The company encourages developers toward environmentally friendly design practices with green continuing education courses to help builders create health-focused facilities that meet criteria for Well Building Standard (WELL) certification. Excel is also committed to hygiene, recently teaming up with the highly respected research firm Metrixlab to conduct a global survey. Results show a strong link between public restroom cleanliness and business reputation, with respondents saying the number one contributing factor to a dirty restroom is paper towels on the floor or overflowing trash cans. 'Every day our workers here in Massachusetts create the world's most efficient, environmentally friendly and hygienic hand drying solution,' said Gagnon. 'Born from American innovation, we are proud to set the standard for the industry.' About Excel Dryer, Dryer is a family-owned and operated company that revolutionized the industry with the invention of the XLERATOR® Hand Dryer, which set a new standard for performance, reliability and customer satisfaction. For more than 50 years, Excel has been manufacturing American-made hand drying solutions that are dependable, cost effective, safe and sustainable. Backed by the best customer service, Excel Dryer products can be purchased through an established network of sales representatives and distributors globally. Learn more about Excel Dryer at
