Posted 12/19/2023, 7:17:00 PM
Bipartisan Opposition Mounts Against Proposed $14B Sale of U.S. Steel to Japanese Company
- Bipartisan opposition growing to proposed $14B acquisition of US Steel by Japanese steelmaker Nippon Steel
- Republican Senators Vance, Hawley, and Rubio urge blocking deal over national security concerns in letter to Treasury Secretary Yellen
- Ohio Senator Sherrod Brown and Pennsylvania Senator John Fetterman, both Democrats, also oppose foreign purchase of major US steel manufacturer
- United Steelworkers union opposes deal, says US Steel ignoring concerns of American workers to sell to foreign company
- Expert says despite political pressure, unlikely Biden would block purchase by close ally Japan given other critical issues like China and semiconductors