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US Senators Unite Across Party Lines to Oppose US Steel Sale to Japanese Company

 |  December 19, 2023

In a swift and bipartisan response, U.S. senators from neighboring states of Ohio and Pennsylvania, both Democrats and Republicans, have expressed their vehement opposition to the recent announcement that U.S. Steel is set to be sold to a Japanese corporation, Nippon Steel Corp.

Democratic Senator John Fetterman of Pennsylvania minced no words as he declared, “It’s absolutely outrageous that U.S. Steel has agreed to sell themselves to a foreign company.” He emphasized the crucial link between steel and national security, pledging to leverage his position to thwart this foreign acquisition.

Senator Bob Casey, also a Democrat from Pennsylvania, echoed Fetterman’s sentiments, stating that the iconic American steel company should remain under domestic ownership. Casey expressed concern that the sale appeared to be unfavorable for Pennsylvania and its workforce.

On the other side of the aisle, Republican Senator J.D. Vance from Ohio, emphasized the importance of preserving a critical piece of America’s defense industrial base. Vance asserted, “A critical piece of America’s defense industrial base should not be owned by a foreign enterprise,” as he vowed to oppose the sale and scrutinize its long-term implications on national security, industry, and workers.

Read more: Nippon Steel Emerges Victorious in $14.9 Billion Deal to Acquire US Steel

Vance had previously urged U.S. Steel to reject any foreign bids, and now he stands firm in his commitment to protecting the future of the nation against potential risks associated with foreign ownership.

Joining Vance in bipartisan dissent, Ohio’s Democratic Senator Sherrod Brown expressed criticism of the deal, signaling a united front against the sale that has stirred concerns about the impact on both regional economies and national security.

As the debate intensifies, these senators, united by shared concerns over the foreign acquisition of U.S. Steel, are poised to play a pivotal role in shaping the future of this significant industrial transaction.

Source:  NY Sun