Biden is coming out in opposition to plans to sell US Steel to a Japanese company

By JOSH BOAK
Associated Press

WASHINGTON (AP) — President Joe Biden is opposing the planned sale of U.S. Steel to Nippon Steel of Japan. Biden says in a statement obtained by The Associated Press the U.S. needs “strong American steel companies powered by American steel workers.” The announcement expected Thursday comes as the Democratic president campaigns in the Midwest and could have ripples in his race against Republican Donald Trump. Nippon Steel announced in December it plans to buy the Pittsburgh-based steel producer for $14 billion in cash. That raised concerns within the federal government about what the transaction could mean for unionized workers, supply chains and U.S. national security. Nippon Steel promises no job losses and says it’s committed to keeping U.S. Steel’s Pittsburgh headquarters.