{"id":2129076,"date":"2023-12-19T14:25:03","date_gmt":"2023-12-19T19:25:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fetterman-says-u-s-steel-sale-is-absolutely-ridiculous-will-work-to-block-it\/"},"modified":"2023-12-19T14:28:15","modified_gmt":"2023-12-19T19:28:15","slug":"fetterman-says-u-s-steel-sale-is-absolutely-ridiculous-will-work-to-block-it","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fetterman-says-u-s-steel-sale-is-absolutely-ridiculous-will-work-to-block-it\/","title":{"rendered":"Fetterman opposes &#8216;absurd&#8217; U.S. Steel sale, vows to prevent it"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffetterman-says-u-s-steel-sale-is-absolutely-ridiculous-will-work-to-block-it%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2129076&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">U.S. Sen. John Fetterman \u2063(D-PA)\u200c departs from the Senate Chambers in the U.S. Capitol Building. (Photo by Anna Moneymaker\/Getty\u200d Images)<\/figcaption><\/figure>\n<h2>OAN\u2019s <a href=\"https:\/\/www.oann.com\/tag\/brooke-mallory\">Brooke Mallory<\/a><br \/>11:13 AM \u2013 Tuesday, December 19, 2023<\/h2>\n<p>Senator John Fetterman\u2064 has taken a bold stance against the $14.9 billion sale of U.S. Steel Corp. to Nippon Steel, a\u200d Japanese steel manufacturer, calling it an &#8220;outrageous&#8221; deal.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The announcement of the purchase on Monday caused a 25% increase in U.S. Steel\u2019s stock price. Fetterman (D-Pa.) expressed his\u2063 disapproval \u200cof the \u200dtransaction by writing that it was \u200b&#8221;wrong for workers and \u200cwrong for Pennsylvania&#8221; in a post on X, the website formerly known as Twitter.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>&#8220;I\u2019m gonna\u200d do everything I can to block it,&#8221; Fetterman wrote on X (Twitter).<\/p>\n<\/blockquote>\n<blockquote class=\"wp-block-quote\">\n<p>&#8220;I live across the street from\u2064 U.S. Steel\u2019s Edgar Thompson plant in Braddock,&#8221;\u200c Fetterman said. &#8220;It\u2019s absolutely outrageous\u200d that U.S. Steel has\u2063 agreed to sell themselves to a foreign company. Steel is always about security\u2014both our national security and the economic security of our steel communities. I am committed to doing anything I can \u200cdo, \u2064using my platform and my position, to block this foreign sale.&#8221;<\/p>\n<\/blockquote>\n<p>In \u2063Pennsylvania, U.S. Steel &#8220;supported an estimated 11,417 \u2062jobs,&#8221; including over 3,700 direct \u200bjobs, according to a press \u200crelease from October. The October report said that U.S. Steel contributed approximately $3.6 billion to\u200b the state and local economies in the fiscal year 2022.<\/p>\n<p>In addition to reposting a \u2064video\u200d of his home immediately across from \u2063the \u200dBraddock, Pennsylvania, steel factory on the social media platform, Fetterman used his message to reaffirm his support for the state\u2019s steelworkers.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>&#8220;This is yet another example of hard-working Americans being blindsided by greedy corporations willing to sell out their communities to serve their \u200cshareholders. I stand with the men and women\u200c of the steelworkers and their union way of life,&#8221; he asserted.<\/p>\n<\/blockquote>\n<blockquote class=\"wp-block-quote\">\n<p>&#8220;We \u200ccannot allow them to be\u200d screwed over or left behind. I promise to them\u200b and to all forgotten communities across Pennsylvania that\u200c I will work with [Sen. Bob Casey (D-Pa.)] and the rest of the delegation to fight like hell to make this right,&#8221; Fetterman continued.<\/p>\n<\/blockquote>\n<p>The press release from U.S.\u200b Steel stated that the headquarters will stay in Pittsburgh, Pennsylvania, and that Nippon Steel will &#8220;honor all <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-pass-bill-critics-say-defunds-police-and-reject-proposal-to-condemn-calls-to-abolish-police\/\" title=\"Democrats Pass Bill Critics Say Defunds Police And Reject Proposal To Condemn Calls To \u2018Abolish\u2019 Police\">collective bargaining agreements<\/a> \u200bwith the\u2062 United Steelworkers Union as part\u200b of its commitment to maintaining\u200b strong stakeholder relations.&#8221;<\/p>\n<p>One of the \u200dcontributing\u200b elements in the acquisition, \u2064according to Nippon Steel, was the increased demand for steel brought about by the <a href=\"https:\/\/www.congress.gov\/bill\/117th-congress\/house-bill\/3684\" target=\"_blank\" rel=\"noreferrer noopener\">Infrastructure Investment and Jobs Act.<\/a><\/p>\n<blockquote class=\"wp-block-quote\">\n<p>&#8220;Energy and manufacturing industries \u2063 [will] return to the U.S. under changes in the world economy structure and cheap energy in the U.S. The infrastructure bill and spending is expected to \u200ddrive steel demand uptick moving\u200d forward,&#8221; the company <a href=\"https:\/\/www.nipponsteel.com\/common\/secure\/en\/ir\/library\/pdf\/20231218_200.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">wrote\u00a0in a statement<\/a>.<\/p>\n<\/blockquote>\n<p>Stay informed! Receive breaking news blasts directly to your inbox for free.\u2062 Subscribe here. <a href=\"https:\/\/www.oann.com\/alerts\">https:\/\/www.oann.com\/alerts<\/a><\/p>\n<\/p>\n<div id=\"rc-widget-10bad2\" data-rc-widget data-widget-host=\"habitat\" data-endpoint=\"\/\/trends.revcontent.com\" data-widget-id=\"278641\"><\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t \t\tShare this post!\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>As the 2024 \u2063elections are underway, one\u200c congressional candidate \u200cexplains her plan to secure the Southern Border for her community in Texas.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Migrants in New York City are being forced out of inns\u200c and shelters with no guarantee of another place to go. Here\u2019s\u2064 One America\u2019s, Makenna Blackman.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Congressional Republicans vow \u200dto hold Hunter Biden in contempt for defying their subpoena for a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/contempt-charge-against-dan-scavino-based-on-false-claims-by-january-6-committee\/\" title=\"Contempt Charge Against Dan Scavino Based on False Claims by January 6 Committee\">closed-door deposition<\/a>.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Ashley Biden owes back taxes, Jonathon Majors is found guilty and John Fetterman wants US Steel to \u2062stay American.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Google will pay $700 million and revamp its Play app store to allow for greater competition as part of \u200ban antitrust settlement\u200d with\u2062 U.S. states and consumers.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Apple said it would pause sales\u200d of the smartwatches as it deals with a \u2062patent \u2062dispute over the technology that enables the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/former-top-dei-manager-scams-facebook-out-of-millions\/\" title=\"Ex-DEI Manager Swindles Facebook for Millions\">blood oxygen feature<\/a> on the devices.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The \u200bSEC denied a petition by\u200b the country\u2019s largest crypto exchange Coinbase Global asking the agency to create new rules for the digital asset industry.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>OpenAI CEO Sam Altman has doubled down on his vision for Worldcoin, following reports the company was seeking $50 million in funding.<\/p>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> \u200dWhat is the economic impact of U.S. Steel in Pennsylvania, and how would the sale to a foreign company\u200b potentially affect the state&#8217;s steelworkers and communities?<\/h2>\n<p><span>  Inbox.<\/p>\n<p>Senator John Fetterman, a Democrat from \u2064Pennsylvania, has made headlines with his strong opposition to the $14.9 billion sale of U.S. Steel Corp. to Nippon Steel, a\u200b Japanese steel manufacturer. Fetterman called\u200d the deal &#8220;outrageous&#8221; and\u200b vowed to\u200b do everything he can to block\u200b it.<\/p>\n<p>The announcement of the purchase on Monday caused a 25% increase \u200din U.S. \u2062Steel&#8217;s stock price. Fetterman expressed his disapproval \u200dof the transaction through a post on social media platform\u2062 X (formerly known as Twitter), stating that it is wrong\u2064 for workers and wrong for \u200cPennsylvania.<\/p>\n<p>Fetterman, \u2062who lives across the street from U.S. Steel&#8217;s Edgar Thompson plant \u2063in Braddock, Pennsylvania, emphasized the importance of steel to both national security and the economic security of\u200b steel communities.\u200d He stated that it is unacceptable \u200cfor U.S. Steel to sell itself to \u2062a foreign \u2062company \u2062and \u2064pledged to\u2064 use his platform and position to block the \u200bsale.<\/p>\n<p>The impact of U.S. Steel on Pennsylvania&#8217;s economy is significant, as\u2063 the company supports an estimated 11,417 jobs, including over 3,700 direct jobs. In the fiscal year 2022, U.S. Steel contributed approximately $3.6 billion to the state and local economies.<\/p>\n<p>In \u200caddition to his social media post, \u200dFetterman shared a video\u200d of his home across from the Braddock\u2063 steel factory, highlighting \u2064his personal connection to the steel industry\u2063 and reaffirming his\u2064 support \u2063for the state&#8217;s steelworkers. He \u2062criticized the\u2064 sale as another example of greedy corporations\u2063 willing to \u2064sacrifice communities for the benefit of shareholders.<\/p>\n<p>Fetterman also pledged \u200bto work\u200b with Senator Bob Casey and the rest \u2064of the delegation to fight for the rights of steelworkers and forgotten communities across\u200c Pennsylvania. He promised to \u200dstand against being &#8220;screwed over\u2064 or left behind&#8221; and to\u200c make things right for these communities.<\/p>\n<p>U.S. Steel&#8217;s \u2064press release \u2064stated that the company&#8217;s \u200cheadquarters will remain in Pittsburgh,\u2062 Pennsylvania, and\u2062 that\u200b Nippon \u200dSteel will honor all collective bargaining agreements \u200bwith\u200c the United Steelworkers Union. This commitment reflects Nippon Steel&#8217;s dedication to maintaining strong \u2063stakeholder\u200d relations.<\/p>\n<p>One of \u2064the \u2064contributing \u200dfactors to\u2062 the acquisition, according to Nippon Steel, is the increased \u200cdemand \u200dfor steel\u2064 driven by the Infrastructure \u200cInvestment and Jobs Act. The company expects a rise in steel\u200d demand \u200bas energy and \u2062manufacturing sectors \u200dreturn to the U.S., \u200caided by changes in the global \u2063economy&#8217;s\u200c structure and the availability of \u200ccheap\u200c energy.<\/p>\n<p>The controversy surrounding the sale\u200d of U.S. Steel Corp. to Nippon Steel highlights the \u200dcomplex issues of national security, economic impact, and \u2064the loyalty of corporations to their\u2064 communities. Senator Fetterman&#8217;s opposition reflects the concerns of many who fear the\u2064 consequences of foreign ownership of critical \u2064industries. The outcome of this \u200congoing debate will have lasting effects on the steel industry and \u200bthe communities it supports.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Senator John Fetterman aims to obstruct the $14.9 billion acquisition of U.S. Steel Corp. by Nippon Steel, a Japanese steel company<\/p>\n","protected":false},"author":1866,"featured_media":2129077,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2129076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2129076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1866"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2129076"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2129076\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2129077"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2129076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2129076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2129076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}