Biden is coming out in opposition to plans to sell US Steel to a Japanese company
President Joe Biden is opposing the planned sale of U_S_ Steel to Nippon Steel of Japan, saying the U_S_ needs «strong American steel companies powered by American steel workers.”
WASHINGTON — President Joe Biden came out in opposition to the planned sale of U.S. Steel to Nippon Steel of Japan, saying on Thursday that the U.S. needs to „maintain strong American steel companies powered by American steel workers.”
In a statement, Biden added: “U.S. Steel has been an iconic American steel company for more than a century, and it is vital for it to remain an American steel company that is domestically owned and operated.“
By opposing the merger, Biden has chosen to support unionized workers in a critical election year at the risk of upsetting the business community and an essential ally in Japan. Thursday's announcement, coming as Biden is campaigning in the Midwest, could have ripples in his race against the presumptive Republican presidential nominee, Donald Trump.
The Democratic president has made the restoration of American manufacturing a cornerstone of his agenda as he seeks reelection, and he has the endorsements of the AFL-CIO and several other prominent unions. The White House said Thursday that Biden called David McCall, president of United Steelworkers, to reiterate his support for its members.
Nippon Steel announced in December that it planned to buy the Pittsburgh-based steel producer for $14.1 billion in cash, raising concerns about what the transaction could mean for unionized workers, supply chains and U.S. national security.
The Japanese company reiterated Friday how the deal benefits U. S. Steel, union workers, the American steel industry and national security.
“Nippon Steel will advance American
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