Cleveland-Cliffs CEO weighs in on Japan's Nippon Steel buying US Steel

Lourenco Goncalves, Cleveland-Cliffs CEO, joins 'Closing Bell: Overtime' to discuss Japan's Nippon Steel buying US Steel deal.

[@山下清-n9z]

America likes "Free Trade" but does not like Nippon buying US Steel :)

[@russ9238]

Hardly any comments which is amazes me. To have a foreign ownership of our strategic companies doesn't add value to the American people just a bunch of greedy freaking stock investors.

[@bobcd-y7r]

Your strategic enterprise? If I remember correctly, U.S. Steel is a private, publicly traded company. Its ownership belongs to the shareholders, not to you keyboard warriors.

[@patapata2023]

🇺🇸🤝🇯🇵 🔥 🇨🇳

[@jasondevault5066]

The stock's good so give back to the employees

[@northeast5076]

Cleveland Cliffs is not owned by a Chinese company, get your facts straight

[@annabailey443]

$CLF is down 15% over the last 3 weeks. The CEO should be putting more focus on Cleveland Cliff's performance and not other companies business! Take some responsibility for goodness sake.

[@bps7209]

This should never happen to an American icon like US Steel selling it to Japan.😡

[@satinsan]

sorry we will receive It's an opportunity when Biden is president.

[@bps7209]

@@satinsan exactly why we won’t survive as we were as a nation.

[@tigerion9275]

… Is still US icon?

[@o0usf0o]

US steel is outdated floundering company. Biden has nothing to do with the sale… the board took the highest bid per share to cash out! What he saying is biden may squash the deal based on national security risk as we’ve learned with semiconductors.

[@chicagotom1643]

Better Japan than China or 🐄💩 India

[@Nicklan1961]

Cleveland cliffs I have some experience with these guys They are Chinese However Nippon Steel does and will compete with the Chinese.

[@lookupverazhou8599]

Who cares how Japan competes with the Chinese?

[@frankgrabasse4642]

If an American company bought US steel they would not invest a penny into it. They would cry for import protection to the government and raise the prices to the end user. All that money would go straight to wall st. They would raid the pension and leave the debt on the government. This ceo has mentioned the share holders front and center in this interview.... Better with nippon. What are the Japanese going to do? Ship the plant to Kyoto?

[@lookupverazhou8599]

Kinda braindead, aren't ya? The plant already exists in Kyoto, now they just ship the resources there.

[@bobcd-y7r]

Kyoto？Kyoto is a suitable place for steel plant?

[@stevensum2011]

Nothing wrong japanese companies but unfortunately any nation should keep and own production and infrastructure companies to themselves not own by foreign companies. Look what happen British steel sold to india and arm sold to japanese.

[@bobcd-y7r]

Back in the day, your American company Micron also acquired a Japanese memory chip manufacturer. So why don't you Americans give that back too?

[@northeast5076]

I work for the new owners and feel this is the best owners we've had, they've invested in our mill, need alitte bit of internal management changes, old mentality exists

[@DB-we5pv]

~~ ¡

[@DB-we5pv]

Give him a Catheter.

[@BradyT918]

Ah yes, cleveland Cliffs, which is currently owned by a chinese company. Cleveland Cliffs owns several open pit mines in northern Minnesota which US Steel gets much of its iron from. Either way, better to have an allied company buy it than yet another chinese company. Though of course it'd be best to keep it American owned but in this case, it's the lesser of two evils.

[@miltonsoto2198]

Cliffs is not owned by a chinese company lol

[@chicagotom1643]

Cliffs is a Polock company

[@chicagotom1643]

@@foxsmith5718 But are the employees happy? I know a few that left USS for Cliffs. Cliffs owns everything around here

[@chicagotom1643]

@@foxsmith5718 This is going to be interesting at contract time

[@chicagotom1643]

@@foxsmith5718 That's how Mario was before Dave whatever took over. That Mario pretty much robbed Caterpillar and became CEO for USS and poof

[@johnchieze530]

japan is a country of 'we.' here in the u.s.of a. it's about 'me.' and me is plain ecstatic after watching my holdings of u.s. steel climb from $5 a couple years ago to $49. the ultimate function of the ceo and board is to enrich shareholder value, not employment or raise wages which is the job of the fed. with any luck the current white house occupant will green light this, but most of us can't wait for trump to take the helm in 2025

[@SlothNast]

good for u bud

[@johnwilcox4078]

"Most of us"? 😂

[@johnnylee6122]

Good luck doing all that without employees

[@lookupverazhou8599]

The fed's job is to increase inflation and reduce home ownership and profit and repeat. Why don't you sell now, though? Why wait til it drops?

[@Zoe-c9z]

Only a US company should be able to aquire it if it is for sale.

[@bps7209]

Absolutely 👍

[@Matthew-vm7qi]

Why?

[@bps7209]

@@Matthew-vm7qi do you really have to ask? Do some research.

[@chloeconniecarlton]

Your pride issues are useless .. Almost Anybody can come into the USA and buy a company if they have the $$ That's called Capitalism..Japan is the USA's 2-3 largest trading partner...There is nothing to worry about,accept someone's pride issues...

[@domesticatedwolverine4152]

Don't be so close minded.

[@lookupverazhou8599]

What's wrong with a foreign company extracting resources from your country and shipping them back to their own country?

[@chillxxx241]

Surprised the Chinese got out bid by Japan for a US company.