Lourenco Goncalves, CEO of Cleveland-Cliffs, declared at the American Iron and Steel Institute's annual meeting that Nippon Steel's bid to buy U.S. Steel stands "zero chance" of government approval. He emphasized that the Cleveland-Cliffs' bid was supported by President Joe Biden and former President Donald Trump, expressing confidence in his proposal's alignment with American interests.

Nippon Steel persists in its pursuit of the iconic U.S. Steel, valued at nearly US$15 billion, despite resistance from political figures, unions, and ongoing national security scrutiny. U.S. Steel maintains that its labor agreement doesn't grant the union veto power over the deal. Despite Nippon Steel's confidence in completing the acquisition, challenges persist from various fronts.