Kamala Harris says U.S. Steel Should Remain American-Owned

Democratic presidential candidate Kamala Harris stated on Monday that U.S. Steel should remain under national ownership, during a speech to working-class voters in Pennsylvania at a Labor Day rally with President Joe Biden.

This marked their first joint appearance on the campaign trail since Harris replaced Biden as the Democratic nominee in July. The president introduced Harris to a crowd of over 600 people at a union hall, emphasizing her strong connection with labor unions.

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“U.S. Steel is a historic American company, and it’s vital for our nation to keep American steel companies strong,” Harris said during her address. “U.S. Steel must remain American-owned and managed by Americans.”

Harris’ position echoes that of President Biden, who in March expressed concern over U.S. Steel’s agreement to be acquired by Japan’s Nippon Steel for $14.9 billion, emphasizing the need for the company to remain in American hands. Biden had previously highlighted the importance of U.S. Steel to national security and economic stability.

As the Labor Day holiday signals the start of a crucial post-summer sprint toward the November 5 election, both Harris and her Republican rival, former President Donald Trump, are expected to intensify their efforts to win voters in key battleground states like Pennsylvania, Georgia, Michigan, and Nevada.

While Trump refrained from campaigning on Monday, Harris held events in Detroit and Pittsburgh, using her speeches to emphasize her support for steelworkers. In February, Trump had suggested that he would block the Nippon Steel deal, a merger that has caused anxiety among some unionized workers—a key voting bloc in Pennsylvania and other Rust Belt states. Last month, Trump reaffirmed his intent to stop the deal.

Despite political opposition, U.S. Steel reaffirmed its commitment to the Nippon Steel agreement, calling it “the best deal for [its employees] and the communities where they live.”

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Ignacio Teson
Ignacio Teson
Economist and Financial Analyst
Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.
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