Cleveland-Cliffs CEO attacks Japan as he reiterates interest in acquiring U.S. Steel

Legal and Corporate Disputes - Cleveland-Cliffs CEO Lourenco Goncalves dismissed the lawsuit filed by U.S. Steel and Nippon Steel as a "shameless effort to scapegoat others for their self-inflicted disaster" [2] - U.S. Steel and Nippon Steel have sued Goncalves, Cleveland-Cliffs, and United Steelworkers President David McCall in federal court, alleging coordinated actions to prevent the deal [1] Strategic Moves and Market Reactions - Cleveland-Cliffs CEO Lourenco Goncalves announced a plan to buy U.S. Steel, emphasizing an "all-American solution" focused on workers and people [3] - Cleveland-Cliffs is partnering with Nucor in a potential bid for U.S. Steel, following President Joe Biden's decision to block the sale to Nippon Steel due to national security concerns [3] - Shares of U.S. Steel and Cleveland-Cliffs rose approximately 6% each, while Nucor shares increased by 4% on Monday following the news of a potential offer [4] Geopolitical and Industry Criticism - Goncalves criticized Japan as "evil," accusing the country of teaching China how to dump steel on the U.S. market, overproduce, and create overcapacity [5] - Goncalves challenged Japanese Prime Minister Shigeru Ishiba to address concerns about the blocked acquisition of U.S. Steel with the incoming U.S. administration [5]