Many investors see U.S. trade tariffs as a hurdle to business growth; however, some are benefiting domestic firms in the basic materials sector. These tariffs boost local production and support a broader onshoring trend. President Trump advocates for onshoring industries like autos, semiconductors, and data centers in the U.S. While it might seem limited to big tech firms, this shift creates significant opportunities in the steel industry, crucial for expanding domestic capacity.
This is exactly where shares of Cleveland-Cliffs Inc. (NYSE: CLF) can be a worthy addition to an investor’s watchlist in the coming months, even after the stock has recently broken out into a new 52-week high. There are several compelling reasons to believe this stock has significant upside potential that isn’t currently priced in, stemming from both the business and government sides of the equation.
