USW Applauded Trump’s Pledge to Block Controversial U.S. Steel Acquisition

SEATTLE (Scrap Monster): In a statement issued yesterday, the United Steelworkers (USW) labor organization hailed US President-elect Donald Trump's commitment to block Japanese steelmaker Nippon Steel's plan to acquire Pittsburgh-based United States Steel Corporation.

According to David McCall, international president of USW, it is time to reject the acquisition agreement and focus on the future. The transaction has been under review for over ten months. The reality that the deal would be detrimental for USW members at numerous U.S. Steel operations across the country will not change with time. He also voiced concern that the proposed acquisition would bring economic and security threats to the country.

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Even before and during his election campaign, Trump had opposed the acquisition plan by the Japanese steel giant. In a social media post Monday, he reiterated his stand, saying that he is totally against the acquisition plan. Furthermore, he pledged to make U.S. Steel strong and great again through tax incentives and tariff measures.

The buyout plan, which is presently being reviewed by the United States Committee on Foreign Investment, has faced considerable opposition from the largest labor union since its inception.