President Joe Biden is coming out in opposition to the planned sale of U.S. Steel to Nippon Steel of Japan
President Joe Biden is coming out in opposition to the planned sale of U.S. Steel to Nippon Steel of Japan, saying in a statement to be released Thursday that the U.S. needs to „maintain strong American steel companies powered by American steel workers.”
In a statement obtained in advance by The Associated Press, Biden adds: “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.“
Thursday’s announcement, coming as Biden is campaigning in the Midwest, could have ripples in his race against the GOP presumptive 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.
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.
