Vance Wants Sale of U.S. Steel Blocked

U.S. Sen. JD Vance (R-Ohio) this week said he opposes the sale of U.S. Steel to Japanese steelmaker Nippon Steel, saying “a critical piece of America‚Äôs defense industrial base was auctioned off to foreigners,” according to reports.

Vance and other Republicans have asked Treasury Secretary Janet Yellen, who chairs the Committee on Foreign Investment in the U.S., to urge CFIUS to block the sale.

Meanwhile, U.S. Sen. Sherrod Brown (D-Ohio) issued this statement, saying: “A foreign company shouldn’t be able to swoop in, ignore the voices of union workers, and buy a major steel manufacturer behind closed doors.” 12/20/2023