NEW YORK — Lourenco Concalves, CEO of Cleveland-Cliffs, said that the American steelmaker is willing to acquire U.S. Steel that has agreed to be purchased by Nippon Steel, stressing that Japan is “worse than China.”

Speaking at a news conference on Sunday to mark the fifth anniversary of Cliffs’ acquisition of AK Steel, Concalves said he is pleased with U.S. President Joe Biden’s order for the top Japanese steelmaker to abandon its bid to buy U.S. Steel.