President Joe Biden pledged that America would retain ownership of United States Steel Corp., and called for increasing tariffs on Chinese steel and aluminum, as part of his effort to win over union workers before the presidential elections scheduled for next November.
“US Steel has had a distinguished status as an American company for more than a century,” Biden said before a crowd of members at the headquarters of the United Steelworkers union in Pittsburgh. “The company must remain fully American, owned by America, and managed by American steelworkers’ unions.” “It is the best in the world.” “I promise you this,” he added.
The union strongly opposes the offer made by Japan’s Nippon Steel Corp. to acquire US Steel for $14.1 billion, and the president last month escalated his opposition as well.
