President Biden opposes the planned sale of U.S. Steel to a Japanese company. Campaigning in the Midwest, the president announced his opposition, saying the U-S needs “strong American steel companies powered by American steel workers.” In December, Nippon Steel unveiled plans to buy the Pittsburgh-based steel producer for $14 billion in cash. That raised concerns […]
Audio
Biden opposes Japanese purchase of U.S. Steel
President Biden opposes the planned sale of U.S. Steel to a Japanese company. Campaigning in the Midwest, the president announced his opposition, saying the U-S needs “strong American steel companies powered by American steel workers.” In December, Nippon Steel unveiled plans to buy the Pittsburgh-based steel producer for $14 billion in cash. That raised concerns within the federal government about what the transaction could mean for unionized workers, supply chains, and U.S. national security.