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Biden Blindsides Americans, Even Dems Upset

Biden has proven he doesn’t care about the American people.

Senator John Fetterman, a prominent Pennsylvania Democrat, expressed strong disapproval of the substantial acquisition of U.S. Steel, headquartered in President Joe Biden’s birth state. The proposed $14.9 billion sale to Japan’s Nippon Steel has ignited widespread concern among Democratic lawmakers, including Fetterman, and the United Steelworkers union (USW). The Pittsburgh-based steel producer, once a global industrial giant, holds historical significance in American industrialization.

The USW raised objections, asserting that they were not adequately informed of the deal, a violation of the partnership agreement with U.S. Steel stipulating notification of any change in control or business conditions. Apprehensions regarding potential job relocation to low-wage states, national security risks, and the undermining of the U.S. industry have surfaced, posing a dilemma for President Biden, who has positioned himself as a pro-union leader.

The acquisition price, exceeding U.S. Steel’s recent stock valuation by almost 40%, has drawn attention, with Nippon Steel anticipating a resurgence in American manufacturing. Fetterman, visibly displeased, decried the sale as “absolutely outrageous” in a video posted near U.S. Steel’s Braddock, Pennsylvania plant, characterizing it as another instance of corporations prioritizing shareholders over communities.

In response to bipartisan concerns, a group of politicians, including Senators Bob Casey, J.D. Vance, Josh Hawley, and Marco Rubio, have called for a thorough review of the proposed acquisition. Ohio Senator Sherrod Brown labeled it a “back-room acquisition” and urged the Biden administration to scrutinize its impact on the workforce, supply chain security, national security, and the capacity to export American steel.

Republican senators advocated for the involvement of the Committee on Foreign Investment in the United States (CFIUS) to block the sale, emphasizing potential national security implications. President Biden’s National Economic Adviser, Lael Brainard, acknowledged the need for serious scrutiny regarding national security and supply chain reliability, committing to a comprehensive review through the interagency committee on foreign investment.