Sen. John Fetterman and other senators are urging President Biden’s administration to block the acquisition of U.S. Steel by Nippon Steel Corporation, a foreign company.
They emphasize national security implications and the importance of keeping the iconic American steel company under American ownership.
Concerns are raised about the impact on national security, the U.S. economy, and the fate of thousands of United Steelworkers. (Trending: Assault Weapons Ban Set To Take Effect, Here’s What To Know)
Additionally, Senators Vance, Hawley, and Rubio have also expressed similar concerns.
“This proposed acquisition of U.S. Steel … would make a foreign-owned company a central part of the American steel industry, as well as a major employer,” Fetterman, Sen. Bob Casey (R-PA), and Rep. Chris Deluzio (D-PA) wrote..
Sens. J.D. Vance (R-OH), Josh Hawley (R-MO), and Marco Rubio (R-FL) sent a similar message.
“It’s absolutely outrageous that they have sold themselves to a foreign nation,” Fetterman said.
The United Steelworkers union is pressuring Biden to block the acquisition, criticizing U.S. Steel for selling to a foreign-owned company.
The union labeled the acquisition as “the same greedy, shortsighted attitude that has guided U.S. Steel for far too long.”
“We remained open throughout this process to working with U.S. Steel to keep this iconic American company domestically owned and operated, but instead it chose to push aside the concerns of its dedicated workforce and sell to a foreign-owned company,” USW President David McCall said.
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