Giant us steel have fallen sharply, after President Biden weighed in to oppose a near 15 billion takeover of the firm by a japanese company. Us steel is based in pittsburgh, pennsylvania a key battleground in this years election. The takeover deal, agreed in december, has caused major controversy there. But any move to block it could raise tensions with japan a vital ally for the us as it tries to counter the growing power of china. From new york, erin delmore reports. President biden is taking a stand against a deal in the making. Us steel, an american company, is set to be bought by nippon steel, a japanese company. But President Biden says that us steel should stay in the us. L115 says that us steel should stay in the us in the us. Us steel the stronger in the us. Us steel the stronger america in the us. Us steel the stronger america is in the us. Us steel the| stronger america is made in the us. Us steel the stronger america is made here. The president praised the iconic 123 year o
American Steel Company and said it is vital that the company remain owned and operated in the us. This is a big deal and notjust politically. Nippon steel is set to pay 14. 9 billion to acquire the us giant. But politically, this is territory President Biden knows well. He has cast himself as the champion of the Working Class and has called himself the most pro Union President in history. He made headlines for walking the picket line with striking Auto Union Workers last fall. Unionised steelworkers could land the president supporting his election bid. The four north americas largest industrial union. For his part, former President Donald Trump pledged to block the deal if he retakes the white house. The president of the United Steel Workers International welcomed the call from biden on thursday, agreeing that Foreign Ownership would leave the us vulnerable when it comes to prioritising its own defence and infrastructure. It is bound to be a topic of conversation between key allies whe
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