US Steel: Thousands of union jobs could be lost if merger with Japan company Harris opposes fails

US Steel is warning that thousands of union jobs could be cut and its headquarters would move out of Pittsburgh, Pennsylvania if the merger with Nippon, a Japanese company, merger fails.

“We want elected leaders and other key decision makers to recognize the benefits of the deal as well as the unavoidable consequences if the deal fails,” US Steel CEO David Burritt said in a statement on Wednesday. “US Steel will largely pivot away from its blast furnace facilities, putting thousands of good-paying union jobs at risk (and) negatively impacting numerous communities across the locations where its facilities exist.”

Burritt said US Steel needs a $3 billion investment from Nippon to stay afloat. The investment would be part of the close to $15 billion acquisition.

Nippon’s planned acquisition of the US Steel has been criticized by U.S. government officials, including Democratic Vice President Kamala Harris. 

Harris said she prefers US Steel remain “American-owned and -operated.”

Vice President Kamala Harris used Monday's joint campaign appearance with President Biden in the industrial city of Pittsburgh to say that U.S. Steel should remain domestically owned — coinciding with the White House's earlier opposition to the company's planned sale to Nippon Steel of Japan.

Harris said U.S. Steel "should remain American-owned and American-operated," calling it "an historic American company" that "is vital for our nation to maintain strong American steel companies." 

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