Cleveland-Cliffs CEO criticizes Japan while expressing continued interest in acquiring U.S. Steel.

• Lourenco Goncalves, CEO of Cleveland-Cliffs, stated that he had a plan to acquire U.S. Steel following the collapse of its sale to Nippon Steel.
• During a press conference, Goncalves launched a scathing attack on Japan, branding the U.S. ally as "evil."
• Earlier this month, President Joe Biden prevented Japan's Nippon Steel from acquiring U.S. Steel.

On Monday, CEO Lourenco Goncalves announced that he had a plan to buy, while simultaneously launching a scathing attack against Japan, referring to the country as "evil" during a press conference.

"Goncalves informed journalists at the Butler works plant in Pennsylvania that he plans to buy and has an all-American solution in place that focuses on people and workers."

After CNBC reported earlier Monday that Cleveland-Cliffs is partnering with in a potential bid for U.S. Steel, Goncalves made comments. Cleveland-Cliffs is angling for U.S. Steel after President Joe Biden blocked the company's sale to Japan's Nippon Steel earlier this month, citing national security concerns.

On Monday, U.S. Steel and Cleveland-Cliffs shares rose in trading due to a potential offer, with shares closing up approximately 6% each. Nucor shares also ended the day up 4%.

During a 90-minute press conference celebrating the five-year anniversary of Cleveland-Cliffs' acquisition of AK Steel, Goncalves launched a scathing attack on Japan.

The CEO of Cleveland Cliffs accused Japan of being "evil," stating that the U.S. ally had instructed China on how to flood the American market with steel.

"Goncalves stated that Japan is evil and that it taught China how to dump, have overcapacity, and overproduce."

The CEO challenged Ishiba to bring the same concerns to the White House when President-elect Trump takes office.

"Japan, beware," Goncalves warned. "You do not comprehend your identity. You have not acquired any knowledge since 1945. You have not learned about our strengths, our kindness, our generosity, and our forgiveness."

Goncalves, Cleveland-Cliffs, and United Steelworkers President David McCall have been sued by U.S. Steel and Nippon Steel in federal court for allegedly coordinating actions to prevent a deal from occurring.

Goncalves has rejected the lawsuit as a "desperate attempt to blame others for U.S. Steel and Nippon Steel's own mistakes."