Sen. Brown calls for Biden to stop US Steel sale to Nippon Steel [Video]

“We need to keep American steel production in the hands of companies that value their greatest asset: American workers.”

CLEVELAND — U.S. Sen. Sherrod Brown (D-OH) stated his case for President Biden to stop the sale of U.S. Steel to Nippon Steel during a tour of Cleveland-Cliffs Cleveland Works on Wednesday.

“We can’t sell out workers and undermine U.S. trade enforcement by allowing the sale of U.S. Steel to Nippon Steel,” Brown said during remarks alongside Cleveland-Cliffs CEO Lourenco Goncalves and United Steelworkers (USW) District 1 Director Donnie Blatt.

U.S. Steel, the Pittsburgh steel producer that played a key role in the nation’s industrialization, was acquired by Nippon Steel in December in an all-cash deal valued at approximately $14.1 billion. The transaction is worth about $14.9 billion when including the assumption of debt. The combined company is projected to be among the top three steel-producing companies in the world, according to 2022 figures from the World Steel Association.

The price tag …

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