Trump promises to block $14.9 billion U.S. Steel deal, leaving Pennsylvania steelworkers feeling betrayed and maybe a little gullible - Thar Tribune
Steelworkers in Pennsylvania are reeling after President-elect Donald Trump announced he would block the $14.9 billion sale of U.S. Steel to Nippon Steel, athartribune.com
Steelworkers in Pennsylvania are reeling after President-elect Donald Trump announced he would block the $14.9 billion sale of U.S. Steel to Nippon Steel, a Japanese company, proving once again that campaign promises are just promises with extra glitter.
Trump, the self-proclaimed savior of American manufacturing, took to Truth Social to flex his foreign-deal-blocking muscles, writing, “I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan. Through a series of Tax Incentives and Tariffs, we will make U.S. Steel Strong and Great Again, and it will happen FAST! As President, I will block this deal from happening. Buyer Beware!!!”
While Trump was pounding his keyboard in all caps, steelworkers in Pittsburgh, a city where U.S. Steel employs 3,500 people were left scratching their hard hats.
The proposed sale, which Nippon had pitched as a lifeline for the industry, promised $2.7 billion in investments, advanced technology, and get this – job security.
But instead of a sigh of relief, steelworkers got Trump’s version of a business plan: tariffs, vague tax incentives, and a big helping of nostalgia for an America that never actually existed.
https://timesofindia.indiatimes.com...se-rape-accusations/articleshow/116289754.cms
Joe Biden never supported it. tRump did, to get votes from union people. He lied. Joe did not.Why is Biden blocking it then?
President Biden reportedly set to block sale of Pittsburgh's U.S. Steel to Japan-based Nippon Steel
President Joe Biden is reportedly preparing to block the sale of U.S. Steel to Nippon Steel.
As of Wednesday morning, a U.S. National Security Panel is reviewing the proposed $15 billion deal and the panel has to refer its decision on the merger to President Biden by Dec. 22 or 23.
Bloomberg News reports that once it happens, the president is expected to block the deal on grounds of national security.
That news comes as Nippon Steel announced it would give union employees of U.S. Steel each a $5,000 bonus should the deal go through. They also have promised to invest $1 billion in U.S. Steel's Mon Valley Works.
On Tuesday, The United Steelworkers responded, agreeing with President Biden's reported blocking of the deal, calling Nippon's offer of $5,000 to union members "attempted bribery."
"We have seen this sort of corporate behavior before, and we know what it really means," the statement read. "Nippon is begging union members to trade our long-term stability and bargaining power in exchange for a single payment. But we won't be fooled. This offer ultimately does nothing to change the stakes of the deal, the lasting damage it could do to our domestic steel industry, or the grave implications for our national and economic security."
Clairton mayor says deal is needed to revive Mon Valley
Mills once lined miles of riverbanks along the Monongahela but only a few remain. Those that are still operating still play a vital role in their communities. The mill in Clairton accounts for about 30% of the tax base there.
"We need to get this done so the Mon Valley can get revived, and these steel mills can get the money and assets they need to go ahead and get a resurgence," Clairton Mayor Richard Lattanzi said.
Lattanzi is a former steel mill worker himself in West Mifflin and said workers and Mon Valley leaders want this deal to go through. If it doesn't, he said the mills closing and jobs leaving isn't a matter of if but when. At which point, the finances of the city would be headed toward going over a cliff.
"We couldn't even have a meeting to talk about what we would need to do in the city because we wouldn't even have the proper funding. It would be a mess. It would be devastating," Lattanzi said over Zoom.
A worker rally is scheduled for Thursday outside the Coke Works in support of the deal.
"These are jobs that if they go away, our whole economy goes away," Lattanzi said.
He visited a Nippon mill in West Virginia and said the union workers there are happy with the ownership.
While he supports the union and has no qualms with them, he said the continued push to block this is not the right answer. The mayor has met with the Japanese company to get their word that they will invest in the mill in his city.
Both President-elect Trump & President Biden agree on blocking sale
Earlier this month, the president-elect said he vowed to block the sale of U.S. Steel to the Japanese company Nippon Steel.
"I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan," Trump wrote on Truth Social. "Through a series of Tax Incentives and Tariffs, we will make U.S. Steel Strong and Great Again, and it will happen FAST! As President, I will block this deal from happening. Buyer Beware!!!"
In response to Trump's comments, Nippon Steel said it was "determined to protect and grow US Steel in a manner that reinforces American industry, domestic supply chain resiliency and US national security."
"We will invest no less than $2.7 billion into its unionized facilities, introduce our world-class technological innovation, and secure union jobs so that American steelworkers at U.S. Steel can manufacture the most advanced steel products for American customers," the Japanese firm said in a statement.
Late last year, President Biden also expressed skepticism of the deal. Biden said at the time that "serious scrutiny" was warranted for the planned acquisition of U.S. Steel by Japan's Nippon Steel.
Biden's statement at the time said he "believes the purchase of this iconic American-owned company by a foreign entity — even one from a close ally — appears to deserve serious scrutiny in terms of its potential impact on national security and supply chain reliability."
What does a potential sale of U.S. Steel mean for Pittsburgh?
At 150 years old, The Mon Valley Works — Edgar Thomson Plant is in desperate need of an overhaul, and though Nippon Steel has promised $1 billion in upgrades, the United Steelworkers union leadership opposes the U.S. Steel sale to the Japanese steelmaker, even if the steelworkers themselves are divided.
Even as the steelworkers union has also discounted Nippon's promises of keeping the headquarters in Pittsburgh and that billion-dollar investment, Pennsylvania Gov. Josh Shapiro says he's been working on all sides to broker a deal to protect jobs and steelmaking in Western Pennsylvania and he'll continue despite Trump's post.
"I'm less about social media posts and more about doing the hard work," Shapiro said.
President Biden reportedly set to block sale of Pittsburgh's U.S. Steel to Japan-based Nippon Steel
The president is expected to block the deal on grounds of national security.www.cbsnews.com
Ok. You have anything that shows him supporting the deal?
Not to belabor the point but since you're a straight shooter I'm just trying to understand this here. I've followed this deal from a distance for the past year as the WSJ has written quite a bit about it and lamented that both Biden and Trump (and ultimately) Harris were against the deal and why blocking it will be harmful to the country and to people's jobs.
Any of those steelworkers who voted for trump based on his empty promises deserves what they get. #NoPityTrump promises to block $14.9 billion U.S. Steel deal, leaving Pennsylvania steelworkers feeling betrayed and maybe a little gullible - Thar Tribune
Steelworkers in Pennsylvania are reeling after President-elect Donald Trump announced he would block the $14.9 billion sale of U.S. Steel to Nippon Steel, a
Steelworkers in Pennsylvania are reeling after President-elect Donald Trump announced he would block the $14.9 billion sale of U.S. Steel to Nippon Steel, a Japanese company, proving once again that campaign promises are just promises with extra glitter.
Trump, the self-proclaimed savior of American manufacturing, took to Truth Social to flex his foreign-deal-blocking muscles, writing, “I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan. Through a series of Tax Incentives and Tariffs, we will make U.S. Steel Strong and Great Again, and it will happen FAST! As President, I will block this deal from happening. Buyer Beware!!!”
While Trump was pounding his keyboard in all caps, steelworkers in Pittsburgh, a city where U.S. Steel employs 3,500 people were left scratching their hard hats.
The proposed sale, which Nippon had pitched as a lifeline for the industry, promised $2.7 billion in investments, advanced technology, and get this – job security.
But instead of a sigh of relief, steelworkers got Trump’s version of a business plan: tariffs, vague tax incentives, and a big helping of nostalgia for an America that never actually existed.
Looks like trump's trying to take over Biden's decision and pretend it's his own.Why is Biden blocking it then?
President Biden reportedly set to block sale of Pittsburgh's U.S. Steel to Japan-based Nippon Steel
President Joe Biden is reportedly preparing to block the sale of U.S. Steel to Nippon Steel.
As of Wednesday morning, a U.S. National Security Panel is reviewing the proposed $15 billion deal and the panel has to refer its decision on the merger to President Biden by Dec. 22 or 23.
Bloomberg News reports that once it happens, the president is expected to block the deal on grounds of national security.
That news comes as Nippon Steel announced it would give union employees of U.S. Steel each a $5,000 bonus should the deal go through. They also have promised to invest $1 billion in U.S. Steel's Mon Valley Works.
On Tuesday, The United Steelworkers responded, agreeing with President Biden's reported blocking of the deal, calling Nippon's offer of $5,000 to union members "attempted bribery."
"We have seen this sort of corporate behavior before, and we know what it really means," the statement read. "Nippon is begging union members to trade our long-term stability and bargaining power in exchange for a single payment. But we won't be fooled. This offer ultimately does nothing to change the stakes of the deal, the lasting damage it could do to our domestic steel industry, or the grave implications for our national and economic security."
Clairton mayor says deal is needed to revive Mon Valley
Mills once lined miles of riverbanks along the Monongahela but only a few remain. Those that are still operating still play a vital role in their communities. The mill in Clairton accounts for about 30% of the tax base there.
"We need to get this done so the Mon Valley can get revived, and these steel mills can get the money and assets they need to go ahead and get a resurgence," Clairton Mayor Richard Lattanzi said.
Lattanzi is a former steel mill worker himself in West Mifflin and said workers and Mon Valley leaders want this deal to go through. If it doesn't, he said the mills closing and jobs leaving isn't a matter of if but when. At which point, the finances of the city would be headed toward going over a cliff.
"We couldn't even have a meeting to talk about what we would need to do in the city because we wouldn't even have the proper funding. It would be a mess. It would be devastating," Lattanzi said over Zoom.
A worker rally is scheduled for Thursday outside the Coke Works in support of the deal.
"These are jobs that if they go away, our whole economy goes away," Lattanzi said.
He visited a Nippon mill in West Virginia and said the union workers there are happy with the ownership.
While he supports the union and has no qualms with them, he said the continued push to block this is not the right answer. The mayor has met with the Japanese company to get their word that they will invest in the mill in his city.
Both President-elect Trump & President Biden agree on blocking sale
Earlier this month, the president-elect said he vowed to block the sale of U.S. Steel to the Japanese company Nippon Steel.
"I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan," Trump wrote on Truth Social. "Through a series of Tax Incentives and Tariffs, we will make U.S. Steel Strong and Great Again, and it will happen FAST! As President, I will block this deal from happening. Buyer Beware!!!"
In response to Trump's comments, Nippon Steel said it was "determined to protect and grow US Steel in a manner that reinforces American industry, domestic supply chain resiliency and US national security."
"We will invest no less than $2.7 billion into its unionized facilities, introduce our world-class technological innovation, and secure union jobs so that American steelworkers at U.S. Steel can manufacture the most advanced steel products for American customers," the Japanese firm said in a statement.
Late last year, President Biden also expressed skepticism of the deal. Biden said at the time that "serious scrutiny" was warranted for the planned acquisition of U.S. Steel by Japan's Nippon Steel.
Biden's statement at the time said he "believes the purchase of this iconic American-owned company by a foreign entity — even one from a close ally — appears to deserve serious scrutiny in terms of its potential impact on national security and supply chain reliability."
What does a potential sale of U.S. Steel mean for Pittsburgh?
At 150 years old, The Mon Valley Works — Edgar Thomson Plant is in desperate need of an overhaul, and though Nippon Steel has promised $1 billion in upgrades, the United Steelworkers union leadership opposes the U.S. Steel sale to the Japanese steelmaker, even if the steelworkers themselves are divided.
Even as the steelworkers union has also discounted Nippon's promises of keeping the headquarters in Pittsburgh and that billion-dollar investment, Pennsylvania Gov. Josh Shapiro says he's been working on all sides to broker a deal to protect jobs and steelmaking in Western Pennsylvania and he'll continue despite Trump's post.
"I'm less about social media posts and more about doing the hard work," Shapiro said.
President Biden reportedly set to block sale of Pittsburgh's U.S. Steel to Japan-based Nippon Steel
The president is expected to block the deal on grounds of national security.
You better step up your game because your trolling is pitiful.https://thartribune.com/about/. This is hilarious...
But I guess when you troll, you must find and use only the best sources...
Why is trump babbling about this if Biden's already said he'd block the sale?He campaigned against this deal. Whether one agrees or disagrees with the position, you knew it up front. What am I missing here?
This is from February:
Trump says he would block US Steel sale
Trump says he would block US Steel sale
Former President Trump vowed to block the sale of U.S. Steel to the Japanese Nippon Steel Corporation if he secures a second term in the White House. “I would block it, I think it’s a horribl…thehill.com
Moron.More news from the media of India...
apnews.com
www.newsweek.com
Biden will be gone in a month
So? trump could have mentioned that this was already in the works and he would continue it. Instead he's pretending it was all his idea.Biden will be gone in a month
It's not fake news. I posted a bunch of links showing it's been in our mainstream news, too.
How can he take credit if it's already well known Biden's blocking it? Why do you think it was his intention to take full credit?
Thank you. I admire you because you bring logic from both sides to the table.Why is Biden blocking it then?
President Biden reportedly set to block sale of Pittsburgh's U.S. Steel to Japan-based Nippon Steel
President Joe Biden is reportedly preparing to block the sale of U.S. Steel to Nippon Steel.
As of Wednesday morning, a U.S. National Security Panel is reviewing the proposed $15 billion deal and the panel has to refer its decision on the merger to President Biden by Dec. 22 or 23.
Bloomberg News reports that once it happens, the president is expected to block the deal on grounds of national security.
That news comes as Nippon Steel announced it would give union employees of U.S. Steel each a $5,000 bonus should the deal go through. They also have promised to invest $1 billion in U.S. Steel's Mon Valley Works.
On Tuesday, The United Steelworkers responded, agreeing with President Biden's reported blocking of the deal, calling Nippon's offer of $5,000 to union members "attempted bribery."
"We have seen this sort of corporate behavior before, and we know what it really means," the statement read. "Nippon is begging union members to trade our long-term stability and bargaining power in exchange for a single payment. But we won't be fooled. This offer ultimately does nothing to change the stakes of the deal, the lasting damage it could do to our domestic steel industry, or the grave implications for our national and economic security."
Clairton mayor says deal is needed to revive Mon Valley
Mills once lined miles of riverbanks along the Monongahela but only a few remain. Those that are still operating still play a vital role in their communities. The mill in Clairton accounts for about 30% of the tax base there.
"We need to get this done so the Mon Valley can get revived, and these steel mills can get the money and assets they need to go ahead and get a resurgence," Clairton Mayor Richard Lattanzi said.
Lattanzi is a former steel mill worker himself in West Mifflin and said workers and Mon Valley leaders want this deal to go through. If it doesn't, he said the mills closing and jobs leaving isn't a matter of if but when. At which point, the finances of the city would be headed toward going over a cliff.
"We couldn't even have a meeting to talk about what we would need to do in the city because we wouldn't even have the proper funding. It would be a mess. It would be devastating," Lattanzi said over Zoom.
A worker rally is scheduled for Thursday outside the Coke Works in support of the deal.
"These are jobs that if they go away, our whole economy goes away," Lattanzi said.
He visited a Nippon mill in West Virginia and said the union workers there are happy with the ownership.
While he supports the union and has no qualms with them, he said the continued push to block this is not the right answer. The mayor has met with the Japanese company to get their word that they will invest in the mill in his city.
Both President-elect Trump & President Biden agree on blocking sale
Earlier this month, the president-elect said he vowed to block the sale of U.S. Steel to the Japanese company Nippon Steel.
"I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan," Trump wrote on Truth Social. "Through a series of Tax Incentives and Tariffs, we will make U.S. Steel Strong and Great Again, and it will happen FAST! As President, I will block this deal from happening. Buyer Beware!!!"
In response to Trump's comments, Nippon Steel said it was "determined to protect and grow US Steel in a manner that reinforces American industry, domestic supply chain resiliency and US national security."
"We will invest no less than $2.7 billion into its unionized facilities, introduce our world-class technological innovation, and secure union jobs so that American steelworkers at U.S. Steel can manufacture the most advanced steel products for American customers," the Japanese firm said in a statement.
Late last year, President Biden also expressed skepticism of the deal. Biden said at the time that "serious scrutiny" was warranted for the planned acquisition of U.S. Steel by Japan's Nippon Steel.
Biden's statement at the time said he "believes the purchase of this iconic American-owned company by a foreign entity — even one from a close ally — appears to deserve serious scrutiny in terms of its potential impact on national security and supply chain reliability."
What does a potential sale of U.S. Steel mean for Pittsburgh?
At 150 years old, The Mon Valley Works — Edgar Thomson Plant is in desperate need of an overhaul, and though Nippon Steel has promised $1 billion in upgrades, the United Steelworkers union leadership opposes the U.S. Steel sale to the Japanese steelmaker, even if the steelworkers themselves are divided.
Even as the steelworkers union has also discounted Nippon's promises of keeping the headquarters in Pittsburgh and that billion-dollar investment, Pennsylvania Gov. Josh Shapiro says he's been working on all sides to broker a deal to protect jobs and steelmaking in Western Pennsylvania and he'll continue despite Trump's post.
"I'm less about social media posts and more about doing the hard work," Shapiro said.
President Biden reportedly set to block sale of Pittsburgh's U.S. Steel to Japan-based Nippon Steel
The president is expected to block the deal on grounds of national security.
Must be fake news because they don't like it.