The CEO of American owned and operated Cleveland-Cliffs says he’s putting in a bid to buy U.S. Steel. He says it’s not a matter of if, but when.
This comes after President Joe Biden recently blocked Japan-based Nippon Steel from buying U.S. Steel, calling it a national security threat. President-elect Donald Trump vowed to do the same.
Lourence Goncalves, the CEO of Cleveland-Cliffs said Japan should not have any control over the electrical grid in the U.S., adding that Nippon Steel would threaten our security.
“China is bad, China is evil,” Goncalves said. “Japan is worse ... Japan, beware, you don’t understand who we are. You did not learn anything since 1945? How good we are, how gracious we are.”
Goncalves says once the legal limbo of that blocked deal by Nippon Steel to buy U.S. Steel is over, he will put in a bid to buy U.S. Steel, promising to keep it American owned and operated.
“We need to feed our families,” Goncalves added. “We need to have our needs taken care of. We need to have democracy.”
Mayors in the Mon Valley say they’ve had zero conversations with Cleveland-Cliffs leadership. They say they’re concerned operations will be moved out of Pittsburgh and that Cleveland Cliffs will have a monopoly on the industry.
However, Goncalves says Governor Josh Shapiro supports his potential bid to buy U.S. Steel and the two spoke over the phone Monday.
“I spoke with Josh Shapiro and we had a very good conversation,” Goncalves said. “I said ‘you and I and President Trump will work together.’”
Goncalves says the goal at the end of the day is to save U.S. Steel and ensure the hardworking folks of Western PA have a job.
“I know that we can make American Steel great again,” Goncalves added. “We can make the 10th largest steel company in the world.”
We reached out to Governor Josh Shapiro’s office and the United Steelworkers Union about this potential bid.
Governor Shapiro’s office sent the following statement:
“Throughout this entire process, Governor Shapiro and his Administration have been engaged in intensive conversations with all parties involved in the future of U.S. Steel, always focused on the Administration’s top priorities: protecting Pennsylvania workers and ensuring that the future of American steelmaking takes place in our Commonwealth.”Lourenco Goncalves, the CEO of steelmaker Cleveland-Cliffs, has made clear that he intends to make a bid for U.S. Steel, and in conversations with the Governor, he has made meaningful commitments to Pennsylvania –– including moving his headquarters to Pittsburgh. Before the Governor would even consider endorsing any potential deal, Cleveland-Cliffs needs to make a formal bid to buy U.S. Steel and present specific details on what it will do to protect Pennsylvania jobs for the long term.”As Governor Shapiro has stated before, he expects any potential buyer for U.S. Steel to demonstrate strong commitments to capital investment at the Mon Valley Works, keeping the headquarters in Pittsburgh, and protecting and growing jobs throughout Western Pennsylvania.”The Governor will continue working directly with steelmakers, steelworkers, elected leaders, and local officials to find a long-term solution that protects the future of steelmaking in Western Pennsylvania and delivers for the workers who built U.S. Steel and this country.”
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