VP Harris to say that U.S. Steel should remain domestically owned- reports By Investing.com

Vice President Kamala Harris will advocate for the continued domestic ownership of U.S. Steel Corp during a campaign rally with President Joe Biden, according to media reports.

The rally follows a White House meeting discussing a hostage situation and ceasefire in Gaza. As the post-Labor Day period marks a critical phase leading up to the Nov. 5 election, Harris is expected to intensify voter engagement efforts, particularly in key battleground states.

Harris, who leads the Democratic ticket after Biden’s withdrawal post-debate in June, plans to express her support for steel workers during her Labor Day speech in Pittsburgh.

A campaign aide told Reuters that Harris will emphasize the importance of U.S. Steel remaining under domestic control and will reaffirm her dedication to American steel workers.

This stance is in alignment with former President Biden’s earlier comments from March, where he insisted that U.S. Steel Corp, which is currently under a $14.9 billion acquisition agreement with Japan’s Nippon Steel, should stay an American-owned company.

The United Steelworkers union has expressed strong opposition to this deal, citing concerns over job security and adherence to existing contract terms.

Nippon Steel, for its part, has committed to upholding the union contract until its expiration in 2026 and has promised to avoid layoffs for the duration of the current agreement.

The Japanese firm has also recently increased its investment commitments to $2.7 billion for the modernization of U.S. Steel’s aging facilities in Gary, Indiana, and near Pittsburgh, in an effort to alleviate fears of potential mill closures.