President Joe Biden made a stop on his 2024 campaign trail in Pennsylvania, where he addressed the United Steelworkers union. During his speech, he proposed a significant increase in tariffs on Chinese steel and aluminum, with the aim of protecting American industries. Additionally, Biden expressed his disapproval of the sale of Pittsburgh-based U.S. Steel, assuring union workers that he is committed to maintaining it as a wholly American company.
During a speech in Pittsburgh, the President emphasized the importance of U.S. Steel remaining an entirely American company. He emphasized the need for it to be American-owned and operated by American union steel workers, whom he considers to be the best in the world. The President reassured the audience that this vision would be realized, promising that U.S. Steel would continue to be a symbol of American industry.
Japan’s Nippon Steel advanced their acquisition process with the approval of U.S. Steel shareholders last week. The $14.9 billion sale moved forward, despite resistance from the United Steelworkers union.
The Chinese government has been accused by the president of engaging in unfair practices in the steel industry. According to him, they have been overproducing steel and providing subsidies, which has resulted in artificially low prices in the global market.
“The prices are unjustifiably low because Chinese steel companies do not need to concern themselves with making a profit. This is due to the heavy subsidies provided by the Chinese government. It is not a fair competition; it is cheating. The consequences of this unfair trade practice are evident here in America,” he asserted.
During his speech, Biden made a commitment to the audience that he would ensure American workers do not suffer job losses as a result of imported Chinese steel. He emphasized that this had occurred in Pennsylvania and Ohio in the early 2000s.
In his remarks, Biden subtly alluded to the ongoing criminal trial of his likely GOP presidential opponent, former President Donald Trump, as he actively seeks the support of the crucial voting bloc.
During his speech, Joe Biden highlighted the significant job loss that occurred in Pennsylvania under his predecessor’s leadership. He emphasized the importance of examining the facts, pointing out that the state had experienced a staggering loss of 275,000 jobs.
