US Steel should remain American owned and run: Kamala Harris

Vice President Kamala Harris joined President Joe Biden in declaring that United States Steel Corp should remain domestically owned and operated, the latest headwind to the company's proposed sale to Japan-based Nippon Steel Corp. Harris opposition to the deal welcomed by the United Steelworkers.

"US Steel is an historic American company, and it is vital for our nation to maintain strong American steel companies," Harris said during a Labor Day event Monday with unions in Pittsburgh, home to both US Steel and the United Steelworkers union, which has opposed the sale. "I couldn't agree more with President Biden-US Steel should remain American-owned, and American-operated. And I will always have the backs of America's steelworkers."

US Steel shares fell 5.7% in New York premarket trading Tuesday.


Harris's statement is her first on the proposed deal, and aligns with Biden, who has also pledged that US Steel will remain domestically owned, though he's stopped short of outright blocking it amid a security review. Republican nominee and former President Donald Trump has also called for the transaction to be blocked.

It's not clear whether a decision on the takeover will land on Biden's desk or that of his successor-or even if it will proceed at all. Still, Harris' comments add to the political maelstrom around the $14.1 billion deal-rooted in Pennsylvania, one of the election's key battlegrounds. The state's two senators have been among the most vocal in opposing the sale, as has JD Vance of neighboring Ohio, who is Trump's running-mate.

Biden, speaking before Harris at Monday's event, reiterated his stance. "I made it clear the last time I was in Pittsburgh: United States Steel, an iconic American company for over a century, is going to remain an American company," he said.