Cleveland-Cliffs CEO Lourenco Goncalves expressed his desire to buy U.S. Steel during a news conference, stating that he has an all-American solution in place focused on workers. He plans to partner with Nucor for a potential bid for U.S. Steel after President Biden blocked its sale to Japan’s Nippon Steel due to national security concerns. This news drove up share prices for both companies. During the conference, Goncalves called Japan “evil,” accusing them of teaching China unfair trade practices. He criticized Japanese PM Shigeru Ishiba for expressing concern to Biden about the blocked acquisition. Goncalves warned Japan to be cautious and claimed they have not learned from past mistakes. U.S. Steel and Nippon Steel have sued Goncalves, Cleveland-Cliffs, and United Steelworkers President David McCall, alleging they conspired to prevent the deal. Goncalves dismissed the lawsuit as an attempt to blame others for the companies’ issues. His strong comments and plan to acquire U.S. Steel show his determination to shake up the steel industry and challenge foreign competitors.
Photo credit
www.nbcnews.com
Cleveland-Cliffs CEO Expresses Interest in Acquiring U.S. Steel While Criticizing Japan
Previous article![]( "University of Mississippi – Ole Miss Sports Program")
Next article![]( "Celebrities Who Have Lost Their Homes in Los Angeles Wildfires")
