A PYMNTS Company

Pennsylvania Governor Opposes Nippon Steel’s Bid for U.S. Steel, Citing Union Concerns

By  |  July 30, 2024
Steel & Aluminium

Pennsylvania Governor Josh Shapiro announced on Tuesday his opposition to Nippon Steel’s proposed acquisition of U.S. Steel, aligning his stance with that of the United Steelworkers union. Shapiro, who is a potential candidate for Vice President Kamala Harris’ running mate in the upcoming Democratic Party ticket for the November presidential election, emphasized the merger’s potential impact on workers as a primary concern.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    “From a state perspective as governor, if the U.S. steelworkers aren’t happy with this deal, which they are not, I’m not happy with this deal,” Shapiro stated during an Internal Revenue Service event, which was also attended by Treasury Secretary Janet Yellen. According to Reuters, Shapiro underscored the significance of the union’s dissatisfaction as a key reason for his stance.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    The governor further expressed his apprehension regarding the future of steel manufacturing in Pennsylvania. “If I don’t see a future where U.S. Steel manufacturing continues here in the Commonwealth of Pennsylvania, and is expanding from what is happening right now, I’m not happy, so I’ve got really serious concerns,” he added, per Reuters.

    Read more: EU Antitrust Decision Expected for Nippon Steel’s US Steel Acquisition Next Month

    Shapiro’s comments reflect broader anxieties about the potential consequences of the merger on local industry and employment. The United Steelworkers union, representing a significant portion of the workforce, has voiced strong opposition to the deal, fearing it could lead to job losses and decreased investment in U.S. Steel’s facilities within Pennsylvania.

    The proposed merger has sparked a substantial debate among industry stakeholders, with many awaiting further developments.

    Source: Reuters