President-elect Donald Trump has reiterated his pledge to block the sale of US Steel to a Japanese company, Nippon Steel. The deal, worth $14.9 billion, was expected to create thousands of jobs and invest billions in the local economy.
Trump made the announcement on Truth Social, stating that he would “block this deal from happening” due to concerns over job security and national security. His comments have left US steelworkers feeling frustrated and uncertain about their future.
The sale had been seen as a positive move by many in the industry, with Nippon Steel promising to invest at least $2.7 billion in its unionized facilities and introduce technological innovation. However, some critics argue that the deal would compromise local jobs and economic stability.
“I don’t trust them,” said David McCall, president of the United Steelworkers. “The fact that they’re spending billions on PR campaigns instead of answering our members’ needs concerns us a lot.”
Others have raised similar concerns, with Senator Marco Rubio arguing that the deal would be bad for national security. However, some local leaders see the sale as a positive move, citing potential economic benefits and job creation.
The impact of Trump’s decision is still unclear, but it’s likely to have far-reaching consequences for US Steelworkers and the local economy in the Pittsburgh area, where thousands of people are employed at the company.
Source: https://www.newsweek.com/pennsylvania-steelworkers-donald-trump-plans-block-us-steel-nippon-merger-1995300