Biden vows to shield US steel industry by blocking Japanese merger and seeking new Chinese tariffs – by Chris Megerian and Will Weissert (Associated Press – April 16, 2024)

PITTSBURGH (AP) — President Joe Biden suggested to cheering, unionized steelworkers on Wednesday that his administration would thwart the acquisition of U.S. Steel by a Japanese company, and he called for a tripling of tariffs on Chinese steel, seeking to use trade policy to win over working-class votes in the battleground state of Pennsylvania.

The Democratic president’s pitch comes as Donald Trump, his likely Republican opponent, tries to chart a path back to the White House with tough-on-China rhetoric and steep tariff proposals of his own.

During a visit to the Pittsburgh headquarters of United Steelworkers, Biden said U.S. Steel “has been an iconic American company for more than a century and it should remain totally American.”

Administration officials are reviewing the proposed acquisition of U.S. Steel by Japan’s Nippon Steel, and Biden said last month he would oppose the deal, saying it was “vital for it to remain an American steel company that is domestically owned and operated.”

For the rest of this article: