CLEVELAND - CLIFFS BOSS CRITICIZES CARNEY , PRAISES TRUMP , AS CONFLICT WITH OTTAWA OVER LAYOFFS ESCALATES

What happened: Cleveland-Cliffs CEO Lourenco Goncalves criticized Prime Minister Mark Carney over trade policy and praised President Donald Trump, as the company remains in conflict with Ottawa over layoffs in Canada. Key numbers: Stelco announced layoffs of up to 500 workers Why it matters: The federal government says the layoffs breach legally binding job commitments, and Industry Minister Melanie Joly has warned Cliffs could be sued or forced to divest its Canadian operations. Goncalves said Ottawa's tariff-rate quotas helped Stelco in hot-rolled steel but not enough in galvanized steel.

Cleveland-Cliffs CEO Lourenco Goncalves criticized Prime Minister Mark Carney over trade policy and praised President Donald Trump, as the company remains in conflict with Ottawa over layoffs in Canada.

The federal government says the layoffs breach legally binding job commitments, and Industry Minister Melanie Joly has warned Cliffs could be sued or forced to divest its Canadian operations. Goncalves said Ottawa's tariff-rate quotas helped Stelco in hot-rolled steel but not enough in galvanized steel.