“I warned of this outcome months ago and will oppose it in the months ahead… I will do everything in my power to protect the future of our nation’s security, industry, and workers.”
WASHINGTON, D.C. – Senator JD Vance (R-OH) issued the following statement regarding the announced sale of U.S. Steel Corporation to Japan-based Nippon Steel Corporation:
“Today, a critical piece of America’s defense industrial base was auctioned off to foreigners for cash,” said Senator Vance. “I warned of this outcome months ago and will oppose it in the months ahead. U.S. Steel announced the sale by celebrating the ‘certain and immediate value’ to be delivered to its shareholders. But rest assured that I will interrogate the long-term implications for the American people, and I will do everything in my power to protect the future of our nation’s security, industry, and workers.”
For Background:
- In an August letter to the CEO and Chairman of U.S. Steel, Senator Vance urged the company to reject any acquisition bid from a foreign entity, citing the vital role the domestic steel industry serves in defending the “security and prosperity” of the United States.
- In a September op-ed published in The Washington Post, Senator Vance raised concerns over the consequences a potential sale of U.S. Steel would create for the U.S. industrial base, and commented on the effect the Revlon doctrine has on corporations facing purchase offers.
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