Donald Trump's stated intention to block the sale of U.S. Steel to the Japanese firm Nippon Steel Co. for $14.9 billion triggered howls of outrage, reported the Pittsburgh Tribune-Review — including from a number of steelworkers who backed Trump for president.“I am very frustrated with the news that...

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.

  • MajorHavoc@programming.dev
    1·
    20 days ago

    Nippon Steel says they would keep older (unionized) facilities in Pennsylvania open. Union leadership has said that they don’t believe them.

    That promise plus $9 is absolutely worth the price of a coffee. Unless the price of coffee already went up again, then maybe not.