Goncalves explained mid interview the 2024 acquisition as a defensive move against Stelco undercutting U.S. prices, while also framing it as an opportunity for both countries. “I bought Stelco because I could not afford anymore having Stelco flooding the market here in the United States,” he said, noting the plant’s reliance on American iron ore creates natural interdependence. Cleveland-Cliffs CEO Lourenco Goncalves defended his company’s position on CBC amid escalating tensions with the Canadian government over layoffs at the former Stelco plant in Ontario. Industry Minister Mélanie Joly has given the American owner 15 days to reverse the cuts or face potential legal action, arguing Cleveland-Cliffs failed to meet commitments made when it acquired Stelco. Goncalves pushed back firmly, stating the company is “in full compliance with the undertakings, including undertaking number 13,” and is prepared to defend itself in court if necessary. He emphasized that he wants a clear plan and timeline to restore jobs but set that as the condition for any further discussions. He argued for a “Fortress North America” approach: tariff-free trade between the U.S. and Canada combined with blocking non-North American imports. “If I had zero imports of non-North American countries going inside Canada right now, I would bring all the workers back tomorrow,” he claimed, blaming Canadian policy for continuing to allow steel from places like India and Vietnam that undercut local workers. Confronted with his January 2026 testimony to the U.S. Congressional Steel Caucus—where he supported maintaining Section 232 tariffs without country exceptions, called Canada a “bad actor,” and stated “We need manufacturing in the United States. Not in Canada, not in Mexico”—Goncalves rejected the charge of inconsistency. He said those comments were part of rallying U.S. steelmakers and that Canada’s refusal to fully align on imports is the real barrier. He also took issue with the minister discussing potential buyers, declaring, “The company is not for sale,” and accused the government of “colluding with the union against the company,” calling it unexpected in Canada and bad for investors Looking ahead, Goncalves indicated willingness to operate the plant for roughly another year while seeking policy changes that would allow him to restore employment. “Give me another year. I’ll make money, sell the company, and we’re going to generate a few jobs in between,” he said, adding that without blocked borders on imported cold-rolled and galvanized steel, “there’s no way I can bring these workers back.” He closed by reiterating that Cleveland-Cliffs remains committed to employing Canadians if the right conditions are met, while expressing frustration that Canada is not seizing the chance to strengthen its own steel industry alongside the U.S. @CLE_CLF