President Joe Biden is expected to announce his opposition to the foreign acquisition of the iconic American company U.S. Steel on Thursday as he looks to win over blue collar voters, according to The Associated Press.
The Japanese Nippon Steel Corporation first announced that it would be acquiring U.S. Steel, the world’s fourth-largest steel producer, in December for around $14.9 billion after entertaining multiple offers, including from American steel company Cleveland Cliffs. The announcement is part of the president’s bid to sway blue-collar voters and union members by positioning himself as supporting American manufacturing, with the remarks to be delivered in the battleground state of Michigan, according to the AP.
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