President Joe Biden has come out against the sale of U.S. Steel to the Japanese based steel company Nippon Steel.
Biden did not say whether he would interfere with the sale, but released a statement saying that it is “vital for (U.S. Steel) to remain an American steel company that is domestically owned and operated.”
Nippon Steel offered to purchase U.S. Steel for $14.1 Billion in December. Representatives of both parties and governing levels have been calling for the White House to stop the sale.
Pennsylvania Senator Bob Casey also weighed in on Biden’s comments saying that “Pennsylvania workers are the American steel industry’s greatest asset. I have long held concerns that this sale could be a bad deal for our workers, and I share President Biden’s commitment to maintaining an American steel industry.”
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