Biden is coming out in opposition to plans to sell US Steel to a Japanese company

Published March 14, 2024 3:03 AM

By JOSH BOAK
Associated Press

WASHINGTON (AP) — President Joe Biden is coming out in opposition to the planned sale of U.S. Steel to Nippon Steel of Japan. Biden says in a statement obtained by The Associated Press ahead of its public release Thursday that the U.S. needs “strong American steel companies powered by American steel workers.” The announcement is coming as Biden is campaigning in the Midwest, and it could have ripples in his race against Republican Donald Trump. Nippon Steel announced in December that it 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.

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