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ShowDecember 19, 2023
Watch: John Fetterman Swings Right Again, Pledges To Block Japan From Buying Crucial American Company
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US Steel has agreed to be sold to Japan’s Nippon Steel. Sen. John Fetterman said that this is outrageous and has promised to try and block the sale. Today’s show gets into that.
“Sen. John Fetterman (D-Pa.) vowed Monday to work to block the $14.9 billion sale of U.S. Steel Corp. to Japanese steelmaker Nippon Steel, which he described as an ‘outrageous’ move.
The deal was announced Monday, prompting the stock prices of U.S. Steel to jump up 25 percent. Fetterman criticized the sale, saying in a post on X, the platform formerly known as Twitter, that the move was ‘wrong for workers and wrong for Pennsylvania.’
‘I’m gonna do everything I can to block it,’ Fetterman wrote on X.
‘I live across the street from U.S. Steel’s Edgar Thompson plant in Braddock,’ Fetterman said in a statement. ‘It’s absolutely outrageous that U.S. Steel has agreed to sell themselves to a foreign company. Steel is always about security — both our national security and the economic security of our steel communities. I am committed to doing anything I can do, using my platform and my position, to block this foreign sale.’”
Watch:
"Steel is a matter of national security. Having steel production is very important here in the United States. It is used for everything," Gerald A said.
But now, China leads the world in steel production. The United States is in fourth place, behind India and Japan.
"Maybe the potential loss of jobs is what is pissing people off," Gerald A said. "Respectfully, I disagree."
Japan bought the steel mill that is in the United States.
"Which at the very least means they have to employ people here in this economy. They have to help the communities here. Steel production won't move to Japan. In fact, they agree to keep the headquarters in Pittsburgh," Gerald A said.
They will also honor the union contracts and maintain the US name.
"Those all seem like really good things to do," Gerald A said. "US Steel has not been thriving for a very long time and it is time to acknowledge that."
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