Navigating Market Trends, Personal Finance Tips, and Economic Insights
Popular

Kamala Harris talks sale of U.S. Steel


Kamala Harris talks sale of U.S. Steel

01:55

PITTSBURGH (KDKA) — Amid warnings from U.S. Steel about significant consequences if its sale to Nippon Steel fails, Vice President Kamala Harris defended her position of blocking the sale to the Japanese company. 

In an interview with KDKA-TV on Tuesday, the vice president reiterated her stance that Pittsburgh-based U.S. Steel should remain domestically owned.

“I feel very strongly that U.S. Steel needs to remain a U.S. company, and that the people working there need to be American workers,” Harris said on Tuesday. “I think that is also why I’m proud and I do have the support of the steelworkers union.”

U.S. Steel said last month that if the sale does not happen, it may have to move its headquarters from Pittsburgh and thousands of union jobs could be at risk. Without the sale going through, the company said it will “largely pivot away” from its blast furnace facilities. 

“If you block this foreign acquisition, how can you guarantee that there will be support?” KDKA-TV’s Jon Delano asked Harris on Tuesday. “Will it come from the federal government to make sure these furnaces stay open and the jobs are kept in Pittsburgh?” 

“It is my priority to keep the jobs in Pittsburgh, understanding again that the folks who are doing that work are doing hard work, good work. It is part of not only a tradition of American industry to do that work but it is part of what we need to invest in the future.”

Harris said it’s a matter of protecting American jobs and national security.

“I start my day being briefed on hotspots around the world and threats to our national security,” she said. “When I think about the importance of supporting U.S. workers and U.S. Steel, it’s through the lens of not only what we should do to protect that workforce but also what we should do to protect U.S. and American interests.”

U.S. Steel CEO David Burritt previously said that if the sale to Nippon Steel goes through, U.S. Steel would keep its name and remain headquartered in Pittsburgh. Last week, a board of arbitrators ruled the sale of U.S. Steel to Nippon can move forward.

Share this article
Shareable URL
Prev Post
Next Post
Leave a Reply

Your email address will not be published. Required fields are marked *

Read next
Federal Reserve Chair Jerome Powell said the central bank will cut its benchmark interest rate this year — but…
Best way to use your tax refund in 2024 Best way to use your tax refund in 2024 04:21 More than 30 million…
Larry David expressed some contrition over taking part in a high-profile 2022 Super Bowl commercial for the…
Boeing machinists union leadership has endorsed the latest contract proposal and is calling for a vote early…