President-elect Donald Trump has reaffirmed his opposition to the proposed $14.9 billion acquisition of U.S. Steel by Japanese company Nippon Steel. Trump pledged to block the deal, continuing the stance taken by the Biden administration earlier this year. He proposed stronger tariffs and tax incentives to reinvigorate the iconic steel company and prevent it from relocating its operations out of Pittsburgh.
“I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan,” Trump wrote on Truth Social. “Through a series of tax incentives and tariffs, we will make U.S. Steel strong and great again, and it will happen FAST! As president, I will block this deal from happening. Buyer Beware!!!”
Republican Senate President Pro Tempore Kim Ward expressed optimism in response to Trump’s comments, emphasizing the importance of preserving jobs and the steel industry’s legacy in Pennsylvania. Ward, whose district is home to 4,000 steelworkers, criticized Governor Josh Shapiro for what she called a lack of clear public support for keeping U.S. Steel under domestic ownership. In a letter to Shapiro last month, Ward urged him to take a definitive stance on the acquisition, highlighting its potential impact on Pennsylvania’s steel industry and workforce.
Shapiro’s office stated that the governor has been actively involved in discussions but noted that the final decision on the deal rests with the White House. Spokesman Manuel Bonder affirmed Shapiro’s commitment to protecting Pennsylvania jobs while facilitating negotiations between stakeholders.
Nippon Steel defended its proposal, emphasizing its existing investments in the U.S., including 4,000 employees across Pennsylvania, Alabama, Virginia, and West Virginia, as well as its portfolio of 2,000 patents. Nippon’s leadership argued that its presence in the U.S. positions it to bolster domestic steel production.
The Pennsylvania Economy League reports that the state’s $33.1 billion steel industry employs nearly 31,000 workers. However, opposition to the deal remains strong nationwide. The United Steelworkers Union, representing 850,000 members, has denounced the acquisition, citing concerns over national and economic security. Union officials warn that Nippon may ultimately abandon Pennsylvania facilities in favor of consolidating operations in Arkansas.
Union leaders David McCall and Mike Millsap reiterated their opposition in a joint statement, calling the deal a threat to the country’s steel production capabilities. “If we’re serious about our national and economic security, we must protect the viability and sustainability of raw materials and the melting, pouring, and finishing of steel in our facilities,” they wrote.
Despite the widespread resistance, some U.S. Steel workers have voiced support for the acquisition. In September, over 1,000 employees rallied outside the company’s Pittsburgh headquarters, viewing the deal as a potential lifeline for preserving their jobs.
The future of U.S. Steel remains uncertain as negotiations and political pressures continue to shape the fate of the historic company.