(The Center Square) — The compromised international buyout of U.S. Steel took an unexpected turn Friday. President Donald Trump revealed that the Japanese-owned company will back away from its $14.9 billion to acquire U.S. Steel, but rather invest money into the iconic Pittsburgh-based company. During a joint news conference with […]
Allegiance: A tale of two threatened Pennsylvania steel companies
(The Center Square) – Federal interference threatened operations for two Pennsylvania steel companies this year. The allies on the battlefield, however, looked a lot different – a fact that’s left critics questioning Gov. Josh Shapiro’s allegiances. When the Biden administration’s energy efficiency regulation for distribution transformers threatened to shutter a […]
U.S. Steel alleges union corruption over blocked overseas sale
(The Center Square) – U.S. Steel said Monday that union corruption toppled the company’s overseas buyout and pressured regulators to ignore the law in the organization’s favor. Lawsuits, filed respectively in the U.S. Court of Appeals for the District of Columbia and the District Court for the Western District of […]
Trump still against U.S. Steel overseas buyout
(The Center Square) – A controversial $14.9 billion overseas buyout of the iconic U.S. Steel company based in Pittsburgh still doesn’t have Donald Trump’s support. On Tuesday, the president-elect reaffirmed his vow to block the deal with Japanese-based Nippon Steel, upholding the same promise given by the Biden administration earlier […]
Peter Mihalick: Despite noise from politicians steel deal is good for Pittsburgh
Watching from afar, it is sad that the politics of the D.C. swamp have infected Pittsburgh. That’s the only way to explain why politicians and special interests from outside Pennsylvania are working so hard to block the Nippon Steel – U.S. Steel deal, which objectively would be good for the […]
Jeffrey Kupfer: Politicians shouldn’t endanger the U.S. Steel deal
President Biden is apparently on the cusp of using his executive powers to block Nippon Steel’s acquisition of U.S. Steel, claiming that it would harm U.S. national security. It’s a claim that doesn’t stand up to scrutiny and obscures what appears to be the real reason for his action – […]
Kyle Sammin: The U.S. Steel merger is good for workers, good for Pennsylvania
When Donald Trump imposed a “temporary” 25 percent tariff on steel in 2018, many Democrats and their friends in the media pounced on the plan as ill-considered and harmful to the American economy. Even some Republicans were uncomfortable with the executive action. Legality was not the issue: the section of […]
Becky Corbin: When bipartisan consensus is not a virtue
The prospect of foreign ownership of a storied American company raises concerns, but opposition to this merger is misguided.
By Becky Corbin
Without Nippon deal, U.S. Steel may leave Pittsburgh
(The Center Square) – The company behind the eponymous “Steel City” may be a Pittsburgh icon no more. U.S. Steel, founded in the city more than 120 years ago, said Wednesday that without Japanese-owned Nippon Steel’s $14.9 billion acquisition, it would relocate out of Pittsburgh – dealing an economic and […]
Peter Mihalick: Foreign investment in Pennsylvania company is good
The potential Nippon Steel investment in U. S. Steel is a culmination of the bipartisan desire for strategic reshoring of critical industries.
By Peter Mihalick