The White House says
It also expressed concern about the deal’s potential impact on supply chain reliability in a Thursday statement.
The $15bn (£12bn) purchase of the 122-year-old steelmaker would create one of the world’s biggest steel companies.
The $15bn (£12bn) purchase of the 122-year-old steelmaker would create one of the world’s biggest steel companies.
In a statement, Joe Biden’s national economic adviser, Lael Brainard, said the US president believed that “the purchase of this iconic American-owned company by a foreign entity—even one from a close ally—appears to deserve serious scrutiny”.
Ms Brainard added that President Biden views US Steel as a “core component” of overall domestic steel production.
As he seeks re-election, Mr Biden has cast himself as one of the most pro-union US presidents by joining the picket line of striking car workers. “President Biden believes union workers are the best workers in the world,” the White House statement added.
The USW has welcomed the White House’s statement, saying that the deal could “impact the future of domestic steel production”.
“US Steel has made it clear, time and again, that its first and only priority is short-term financial gain for shareholders, even if this comes at the expense of workers,” it added.
The White House says
The $15bn (£12bn) purchase of the 122-year-old steelmaker would create one of the world’s biggest steel companies.
It also expressed concern about the deal’s potential impact on supply chain reliability in a Thursday statement.
In a statement, Joe Biden’s national economic adviser, Lael Brainard, said the US president believed that “the purchase of this iconic American-owned company by a foreign entity—even one from a close ally—appears to deserve serious scrutiny”.
The $15bn (£12bn) purchase of the 122-year-old steelmaker would create one of the world’s biggest steel companies.
The $15bn (£12bn) purchase of the 122-year-old steelmaker would create one of the world’s biggest steel companies.
In a statement, Joe Biden’s national economic adviser, Lael Brainard, said the US president believed that “the purchase of this iconic American-owned company by a foreign entity—even one from a close ally—appears to deserve serious scrutiny”.
Ms Brainard added that President Biden views US Steel as a “core component” of overall domestic steel production.
As he seeks re-election, Mr Biden has cast himself as one of the most pro-union US presidents by joining the picket line of striking car workers. “President Biden believes union workers are the best workers in the world,” the White House statement added.
The USW has welcomed the White House’s statement, saying that the deal could “impact the future of domestic steel production”.
“US Steel has made it clear, time and again, that its first and only priority is short-term financial gain for shareholders, even if this comes at the expense of workers,” it added.
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