Labor Caucus Applauds President Biden for Blocking Proposed U.S. Steel Takeover

WASHINGTON, D.C. – Today, Congressional Labor Caucus Co-Chairs Representatives Debbie Dingell (D-MI), Mark Pocan (D-WI), Donald Norcross (D-NJ), and Steven Horsford (D-NV) and Vice-Chairs Representatives Marcy Kaptur (D-OH), Chris Deluzio (D-PA), and Nikki Budzinski (D-ILL) released the following statement regarding President Biden’s action to block Nippon’s proposed acquisition of U.S. Steel:

“From the start, workers were not included in this deal. We are grateful that President Biden heeded our calls and blocked Nippon’s proposed takeover of U.S. Steel. This acquisition, and its lack of binding commitments for worker safety and regional investments, would have created significant risk for our national security and supply chains, and the President’s action will ensure that U.S. Steel remains domestically owned and operated by American union steelworkers. Simply put, this will protect America’s infrastructure and the workers who build it, and we appreciate President Biden’s commitment to defending U.S. national security.”

Since the proposed takeover of U.S. Steel by Nippon Steel was first announced over a year ago, Labor Caucus members have expressed strong concerns about the proposed acquisition, including that workers had been excluded from the negotiations and that the deal posed serious threats to America’s supply chains and our broader national security. In January, the Labor Caucus urged the Biden Administration to ensure a comprehensive regulatory review of the deal, and last month we urged President Biden to block the acquisition.