U.S. Senators call for investigation into U.S. Steel’s sale to Japanese company

WEIRTON, W.Va. (WTRF) — In December, the Pittsburgh-based steel company U.S. Steel agreed to sell the company to Japan’s largest steel manufacturer, Nippon Steel.

Now, two U.S. Senators are calling on President Biden to look deeper into this sale and the effects it could have on the country.

Just months after U.S. Steel agreed to sell its 122-year-old company to Japan’s Nippon Steel Corporation, U.S. Senator Sherrod Brown has raised concerns about Nippon’s relationship with China’s steel industry.

Senator Brown has sent multiple letters to President Biden asking his administration to consider various aspects of the $14B sale that could threaten the American economy and its people.  

I’m concerned about Nippon because they have this relationship with Chinese steelmakers. I’m worried about Nippon because they’re not on the same page on trade enforcement as we need to be to protect American jobs. And I’m also concerned about Nippon, because they didn’t really talk to workers.”

Sen. Sherrod Brown – (D) OH

U.S. Senator Shelley Moore Capito has also been making a relentless effort to keep American-made resources out of foreign entities’ control.

Senator Capito believes an investigation into this sale is crucial to keep the American steel industry out of the hands of foreign countries.   

I have spoken about having China taking over our assets and how dangerous that would be, whether it’s in the manufacturing or digital space and the manufacturing of something like steel is no different. And so I think that we should closely scrutinized this.”

Sen. Shelley Moore Capito – (R) WV

One of the biggest concerns in the sale, according to Senator Brown, is the lack of communication between Nippon and American steelworkers.

He says if American workers don’t have a voice in the transaction between the two companies, it will be difficult for him to give his support.  

I’m not going to sign off on something where workers aren’t at the table. I’ve conveyed that to the White House from the president on down. They get it. They’re fighting this. I urge them to continue to fight this U.S. Steel Nippon takeover.”

Sen. Sherrod Brown – (D) OH

Both U.S. Senators say they will continue to fight the sale to avoid U.S. Steel becoming a foreign-owned company and the threat it would bring to the American economy.

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