Donald Trump's stated intention to block the sale of U.S. Steel to the Japanese firm Nippon Steel Co. for $14.9 billion triggered howls of outrage, reported the Pittsburgh Tribune-Review — including from a number of steelworkers who backed Trump for president.“I am very frustrated with the news that...

Summary

Trump announced plans to block Nippon Steel’s $14.9 billion acquisition of U.S. Steel, drawing backlash from many steelworkers who previously supported him.

While some, including United Steelworkers president David McCall, oppose the deal over concerns about job security and unfulfilled promises, others fear blocking it could harm the struggling U.S. steel industry.

Trump’s stance has been criticized as a “gut punch” by union leaders like Jason Zugai, who had expected him to support the deal after the election.

Critics argue Trump has offered no alternative plan to invest in U.S. steel plants if the deal is blocked.

  • Zaktor@sopuli.xyzEnglish
    83·
    19 days ago

    Biden and Harris both opposed this merger, as does the United Steelworkers Union. This isn’t a gotcha moment.

    • Rentlar@lemmy.ca
      142·
      19 days ago

      The problem is that there is no alternate plan for the steelworkers there. Not even a concept. Besides subsisting on existing Biden’s IRA and IIJA money there is no federal help planned. Harris had support for small business in her plan, and continuing the progress of Biden, including the CHIPS act for domestic silicon production, Pete Buttigieg’s rail plans that would demand locally produced steel so on and so forth. Trump’s answer would “weave” into something different every time you would ask.