Cleveland-Cliffs Inc. (CLF) shares are down 3.32% to $11.08 as of 12:07 pm on Friday, following concerns over the future of decarbonization investments in the steel industry. The recent re-election of Donald Trump as President of the United States has raised doubts about the continuation of such investments, as he has expressed intentions to boost fossil-fuel production and potentially withdraw from the Paris Agreement on climate change. Cleveland-Cliffs, which previously received a $500 million grant for clean hydrogen-based steelmaking, may face challenges in maintaining its green steel initiatives amid these political shifts. Additionally, the potential imposition of new tariffs on imports could impact the steel industry, although the specifics remain unclear.