Summary

Trump announced plans to block Nippon Steel’s $14.9 billion acquisition of U.S. Steel, drawing backlash from many steelworkers who previously supported him.

While some, including United Steelworkers president David McCall, oppose the deal over concerns about job security and unfulfilled promises, others fear blocking it could harm the struggling U.S. steel industry.

Trump’s stance has been criticized as a “gut punch” by union leaders like Jason Zugai, who had expected him to support the deal after the election.

Critics argue Trump has offered no alternative plan to invest in U.S. steel plants if the deal is blocked.

  • potpotato@lemmy.world
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    10 days ago

    US Steel is super rocky and blocking a buy out by Nippon will likely mean some sort of deal with Cleveland-Cliffs. The difference is Nippon has negotiated that they would maintain union contracts and upgrade facilities in SW Pennsylvania whereas Cleveland-Cliffs will almost certainly shut the plants down.

    Frankly, it’s a bandaid that eventually needs to be ripped off. USX hasn’t reinvested into their processes pretty much ever, decided to spend their time trying to circumvent Clean Air Act laws for 50 years and then bitch and moan that it would be too expensive to become compliant.

    The Mon Valley has terrible air quality and it’s directly from three primary polluters, which are all USX facilities.