Cleveland-Cliffs plans to sell idle mills to reduce debt, exploring sales worth billions. Recent idlings affected 2,000 workers in Michigan, Illinois, Minnesota, and Pennsylvania. Cost-cutting measures aim to save $310 million annually without impacting steel production output, with revenue reaching $4.9 billion in Q2.

CEO Goncalves praises Trump’s steel tariffs for leveling the playing field with foreign competitors. He urges Powell to lower interest rates to boost car sales and calls on Carney to strengthen Canada’s steel industry. Despite challenges, Goncalves maintains the U.S. as the most desirable market for steel.

Read more at Yahoo Finance: Cleveland-Cliffs looks to sell idle steel plants to data center developers