John Fetterman Leads Senators Demanding Joe Biden Save U.S. Steel from Foreign AcquisitionJohn Binder 21 Dec 2023
Sen. John Fetterman (D-PA) is leading Senators in demanding President Joe Biden’s administration save the United States Steel Corporation from being bought by a foreign company.
As Breitbart News reported, executives with U.S. Steel and Nippon Steel Corporation announced the nearly $15 billion deal, which would have the iconic American steel giant sold off to the Japanese company.
The deal is significant as U.S. Steel, based in Pittsburgh, Pennsylvania, played a critical role in the nation’s “Arsenal of Democracy” during World War II, which ultimately saw the Allied powers defeat the Axis powers, which included Imperial Japan.
Fetterman, in response, has written to Biden’s Treasury Secretary Janet Yellen who chairs the Committee on Foreign Investment in the United States (CFIUS). Fetterman, alongside Sen. Bob Casey (R-PA) and Rep. Chris Deluzio (D-PA), urges Yellen to block the deal.
“This proposed acquisition of U.S. Steel … would make a foreign-owned company a central part of the American steel industry, as well as a major employer,” they write.
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https://www.breitbart.com/politics/2023/12/21/john-fetterman-leads-senators-demanding-joe-biden-save-u-s-steel-from-foreign-acquisition/
