Biden Urges Retention of U.S. Steel Ownership to Preserve American Economic Security

Thursday, 14 March 2024, 13:39

President Biden emphasizes the significance of U.S. Steel remaining domestically owned amidst potential acquisition by Nippon Steel of Japan. Biden assures support for American steel workers and stresses the need to maintain a strong American steel industry. Concerns arise over job outsourcing, union workers' interests, and U.S. supply chain implications, prompting a review by the Committee on Foreign Investment.
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Biden Urges Retention of U.S. Steel Ownership to Preserve American Economic Security

Biden's Stance on U.S. Steel Ownership

President Biden publicly underscores the importance of U.S. Steel retaining its domestic ownership and operation, raising concerns over the potential impact of a sale to Nippon Steel.

Protecting American Jobs and Supply Chains

  • President Biden emphasizes the significance of maintaining strong American steel companies powered by U.S. workers.
  • Concerns are raised over job outsourcing, union workers' interests, and the integrity of U.S. supply chains.

Biden's support for preserving U.S. Steel's American ownership is viewed as a crucial element in reinforcing the nation's economic security.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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