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Story summary
- Cleveland-Cliffs Inc. announced it will lay off up to 500 Ontario workers, breaching 2024 commitments.
- Industry Minister Mélanie Joly warned the company could face lawsuits or forced divestiture of Canadian assets.
- CEO Lourenço Gonçalves accused Prime Minister Mark Carney of snatching defeat from the jaws of victory over trade policy.
- Gonçalves praised President Donald Trump’s 50 % tariffs on U.S. steel, saying they boosted Cliffs’ profits.