Cleveland-Cliffs (CLF) Status Update summary

Policy impacts and economic progress

• Recent federal legislation, including the Bipartisan Infrastructure Law, Inflation Reduction Act, and CHIPS and Science Act, has driven significant investment in manufacturing, infrastructure, and clean energy, directly benefiting communities and supporting high-quality union jobs.

• These policies have enabled the creation of over 16 million jobs, expanded union membership by 400,000, and brought tens of millions of dollars to local economies, fostering economic growth and stability.

• Investments have modernized critical infrastructure, such as bridges and renewable energy projects, and supported advanced manufacturing, including steel for defense and clean energy sectors.

• Trade policy is being reoriented to prioritize workers, with new enforcement mechanisms in trade agreements like the renegotiated NAFTA, aiming to level the playing field and prevent the offshoring of jobs.

• Leadership and unity among government, labor, and industry are emphasized as essential for sustaining progress and ensuring long-term economic security.

Challenges and strategic responses

• Global competition, particularly from China and Mexico, poses ongoing threats to domestic manufacturing and economic security, requiring vigilant trade enforcement and strategic use of tariffs.

• There is a focus on building middle classes collaboratively across borders, rather than pitting workers and industries against each other, to foster shared prosperity.

• Predictability and intelligent policy application are seen as crucial for industry stability and continued investment.

• Diversity and inclusion are recognized as strengths, with leadership reflecting the nation’s demographics and fostering innovation and excellence.

Community and workforce development

• Multi-generational union jobs at facilities like Coatesville are highlighted as foundational to local economies and national security.

• Community revitalization is evident through new businesses, infrastructure improvements, and increased homeownership, signaling rising local prosperity.

• Worker-centric policies and investments are credited with expanding opportunities and improving quality of life for families and communities.