Harris, Biden call out sale of US Steel to Japanese company at Labor Day campaign event
President Joe Biden and Vice President Kamala Harris on Monday called out the sale of United States Steel Corp. to a Japanese company during a Labor Day event in Pittsburgh promoting Harris’ presidential campaign in the 2024 election.
Japanese company Nippon Steel acquired U.S. Steel, which owns the Granite City Works plant, in a $14.9 billion deal approved by the boards of directors for both companies.
The sale was announced Dec. 18. A month earlier, U.S. Steel Corp. said up to 600 metro-east workers would face layoffs as the company “indefinitely” idled the Granite City mill’s primary operations.
U.S. Steel is based in Pittsburgh. During Monday’s campaign stop in the city, both Biden and Harris voiced their opposition to the Nippon Steel sale.
“When you’re in Pittsburgh, you’re standing with steelworkers,” Biden said. “Let’s be clear, I believe in American steel companies, American owned and operated steel companies, for a simple reason — it’s not hyperbole — American steelworkers are the best steelworkers in the world.
“And I made it clear the last time I was in Pittsburgh, United States Steel, an iconic American company for more than a century, is going to remain an American company.”
Harris echoed the president’s statement.
“U.S. Steel is an historic American company, and it is vital for our nation to maintain strong, American steel companies,” Harris said. “And I couldn’t agree more with President Biden, U.S. Steel should remain American owned and American operated. And I will always have the back of American steelworkers and all of America’s workers.”
Despite their opposition, U.S. Steel said it remains “committed to the transaction with Nippon Steel” in a statement to the Associated Press on Monday, describing the sale as “the best deal for our employees, shareholders, communities, and customers.”
“The partnership with Nippon Steel, a long-standing investor in the United States from our close ally Japan, will strengthen the American steel industry, American jobs, and American supply chains, and enhance the U.S. steel industry’s competitiveness and resilience against China,” U.S. Steel told the AP.
Nippon Steel has said it would honor collective bargaining agreements with the United Steelworkers Union.