The Globe and Mail reports in its Tuesday edition that Cleveland-Cliffs chief executive officer Lourenco Goncalves on Monday criticized Prime Minister Mark Carney for "snatching defeat out of the jaws of victory" in trade and extended "kudos" to President Donald Trump, as the U.S. steelmaker remains locked in conflict with Ottawa over hundreds of job losses in Ontario. The Globe's Niall McGee writes that on Sept. 28, Cliffs subsidiary Stelco announced it was laying off up to 500 workers in two plants. The federal government says that, by proceeding with layoffs, Cliffs has breached legally binding job commitments from when it acquired Stelco in 2024. In an earnings call Monday, Mr. Goncalves said that while a crackdown by Ottawa on foreign steel imports has helped Stelco considerably in hot-rolled steel, it hasn't been nearly enough in the galvanized sector. "When the Prime Minister goes on a world trip and says, 'Come to Canada, we're open for business,' they're basically inviting new imports into the market." In the call, Mr. Goncalves once again heaped praise on Mr. Trump and his 50-per-cent tariffs. "Kudos to President Trump," he said. "Now the United States is the third-largest producer of steel in the world."
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