Major automakers, including General Motors, Toyota, Volkswagen, and Hyundai, have voiced strong opposition to a potential acquisition of US Steel by Cleveland-Cliffs. The Alliance for Automotive Innovation, representing these manufacturers, expressed concerns over anti-competitive pricing for vehicles if such a deal were to proceed. The Alliance highlighted that the consolidation would grant a single company control over 65 to 90% of steel used in vehicles.

President Joe Biden has emphasized the importance of US Steel remaining domestically-owned amid its agreement with Japan's Nippon Steel. However, Cleveland-Cliffs has hinted at a possible bid if the Nippon Steel deal fails. The automaker group warned against concentrating domestic steel production into one entity, especially noting its potential impact on the electric vehicle (EV) market.