Biden Soothes US Steelworkers: Pledges Tariff Hike on Chinese Imports and Reiterates Opposition to Japan’s US Steel Acquisition

Simultaneously, President Biden aimed at his presidential rival, former President Donald Trump. He criticized Trump’s pledge, stating, “My predecessor (Trump) and conservative Republican lawmakers advocate for imposing comprehensive tariffs on imports from all nations,” further elaborating, “Such a policy could inflict significant harm on American consumers, potentially burdening every household with an additional $1,500 per year.”

Additionally, Biden reiterated opposition to Japan’s pursuit of acquiring US Steel, a move vehemently opposed by the United Steelworkers (USW).

Japan’s Nippon Steel, ranked the world’s fourth-largest steel producer, announced plans last December to acquire US Steel for $14.9 billion. However, this proposal faced strong resistance from US lawmakers and labor unions.

In light of these considerations, Biden asserted, “US Steel should remain an American entity, a belief I firmly uphold.” Established in Pittsburgh in 1901, US Steel carries profound symbolic importance, having played an integral role in America’s ascension to global preeminence across economic and military spheres.

On this occasion, the President’s resolute advocacy for safeguarding the American steel industry is interpreted as a strategic maneuver aimed at the forthcoming November US presidential election. Pennsylvania, where the steel industry exerts significant influence, is a pivotal locus. Analyses from esteemed publications like the Financial Times and political outlets such as Axios dissect Biden’s address as “one of the strategic maneuvers, mindful of voter sentiments in this battleground state, which could potentially sway the outcome of the election.”