HARRISBURG, Pa. (AP) — President-elect Donald Trump is underscoring his intention to block the purchase of U.S. Steel by Japanese steelmaker Nippon Steel Corp., and he's pledging to use tax incentives and tariffs to strengthen the iconic American steelmaker.
Trump had vowed early in the presidential campaign that he would “instantaneously” block the deal, and he reiterated that sentiment in a post on his Truth Social platform on Monday night.
“I am totally against the once great and powerful U.S. Steel being bought by a foreign company” and will use tax incentives and tariffs to make U.S. Steel “Strong and Great Again, and it will happen FAST!” he wrote.
“As President," he continued, "I will block this deal from happening. Buyer Beware!!!”
President Joe Biden, like Trump, also opposes Nippon Steel's purchase of Pittsburgh-based U.S. Steel. Biden’s White House in September said that it had yet to see a report from the secretive Committee on Foreign Investment in the United States, which was reviewing the transaction for national security concerns. The committee, which is chaired by the treasury secretary and includes other Cabinet members, can recommend that the president block a transaction, and federal law gives the president that power.
Ahead of the November election, the proposed merger carried political importance in Pennsylvania, a critical swing state that Trump eventually won. Biden publicly sided with the United Steelworkers, the labor union, in seeking to reject the deal.
When he announced his opposition in a March statement, Biden said: “U.S. Steel has been an iconic American steel company for more than a century, and it is vital for it to remain an American steel company that is domestically owned and operated.”
Nippon Steel has said it is the only company that can make the necessary investment in U.S. Steel's factories and strengthen the American steel industry. Both Nippon Steel and U.S. Steel on Tuesday released statements in support of the acquisition.
"This transaction should be approved on its merits. The benefits are overwhelmingly clear. Our communities, customers, investors, and employees strongly support this transaction, and we will continue to advocate for them and adherence to the rule of law," U.S. Steel said.
The deal follows a long stretch of protectionist U.S. tariffs that analysts say has helped reinvigorate domestic steel, including U.S. Steel. U.S. Steel's shareholders have approved the deal, but the United Steelworkers oppose it.
In a statement Tuesday, the union said the deal carries “serious long-term implications for U.S. economic and national security.”
“It’s clear that President Trump understands the vital role a strong domestic steel industry plays in our national security, as well as the importance of the jobs and communities the industry supports," the union said.
The deal has drawn bipartisan opposition in the U.S. Senate, including from the incoming vice president, Republican Sen. JD Vance of Ohio, although the federal government's objections to the deal have drawn criticism that the opposition is political.
Some U.S. Steel workers would prefer Nippon Steel acquire the company, given that it appears to have a better financial balance sheet than another potential buyer, Cleveland-Cliffs.
U.S. Steel “provided a very, very good life for our families for a lot of years,” said Jack Maskil, a vice president at the Steelworkers local branch in West Mifflin, Pennsylvania. “And we feel that with the Nippon deal that a lot more families for futures to come will be able to share the same.”
West Mifflin Mayor Chris Kelly said he met with Nippon Steel executives and found himself satisfied by their commitments. Located southeast of Pittsburgh, West Mifflin is home to U.S. Steel's Mon Valley Works–Irvin Plant.
“There’s no question in my mind that it’s the best deal moving forward,” Kelly said at a panel hosted on Tuesday by the conservative think tank Hudson Institute, where Maskil was also speaking.
The Biden administration committee vetting the merger is scheduled later this month to decide on the acquisition or possibly extend the ongoing review.
William Chou, a deputy director at the Hudson Institute specializing in relations with Japan, said that "President-elect Trump's view on the deal are important." But given the upcoming deadline, “It's up to President Biden to recognize how this deal will advance the interests of future generations of U.S. Steel union steelworkers.”
Trump’s statement came two weeks after Nippon Steel’s vice chairman, Takahiro Mori, visited Pittsburgh and Washington to meet with lawmakers, local officials and workers in an ongoing persuasion campaign.
That campaign has included Nippon Steel's promises to boost its capital commitments beyond the original deal and, more recently, a pledge that it won’t import steel slabs that would compete with U.S. Steel’s blast furnaces.
As part of its proposed $14.9 billion purchase of U.S. Steel, Nippon Steel also pledged to invest at least $1.4 billion in USW-represented facilities, not to conduct layoffs or plant closings during the term of the basic labor agreement, and to protect the best interests of U.S. Steel in trade matters.
Boak reported from Washington.
FILE - This April 26, 2010, file photo shows the United States Steel logo outside the headquarters building in downtown Pittsburgh. President-elect Donald Trump is underscoring his intention to block the purchase of U.S. Steel by Japanese steelmaker Nippon Steel Corp., and he’s pledging to use tax incentives and tariffs to strengthen the iconic American steelmaker. Trump said during the campaign that he would “instantaneously” block the deal, and he reiterated that sentiment in a Monday night statement.(AP Photo/Gene J. Puskar, File)
DENVER (AP) — On a night when rookie quarterback Bo Nix threw one touchdown pass, his defense caught two.
In a game where Nix completed 18 passes for 294 yards, his defense picked off three Jameis Winston passes for 171 yards.
That defense is Nix’s best friend. Even in a game where it was getting shredded by Winston, Denver's D delivered a pair of pick-6s in a wild 41-32 win over the Cleveland Browns on Monday night.
That side of the ball got gouged — allowing a Browns-record 497 yards passing from Winston and a career-best 235-yard receiving performance by former Broncos receiver Jerry Jeudy — but made game-changing plays when it mattered most.
“It’s pretty nice for the offense when they bail us out like that,” Nix said. “It was a complete team win."
Next up, rest.
The Broncos (8-5) enter their bye week two games clear of Indianapolis (6-7) for the final AFC playoff spot. They play the Colts coming out of the break.
With a 76% postseason probability, according to the NFL, Nix and the Broncos are setting up for some meaningful football down the stretch. The team hasn't been to the playoffs since winning the Super Bowl after the 2015 season.
“We’re a confident bunch right now,” said Nix, whose team has won three in a row. “We’re playing aggressively. We’re playing together. We’re playing with a little bit of confidence and a chip on our shoulder.”
The Broncos have graduated to a place where they can overcome sticky situations, such as big games from Winston and Jeudy.
“When need be," Nik Bonitto said, “we’re going to find a way to win and that’s what we did.”
Bonitto helped lead the way with a 71-yard pick-6 in the second quarter. Ja’Quan McMillian wrapped up the game when he intercepted a pass, fell on his back, got up and sprinted 44 yards for a score with 1:48 left. If that wasn't enough, Cody Barton picked off Winston in the end zone and was on his way for another score, returning it 56 yards before being tackled.
“Holy cow. Some games go in a direction you think they are going to go. Obviously that one went in a much different direction,” coach Sean Payton said. "We did enough and made enough plays in the end to win.”
This is a Denver defense that leads the league in sacks and now has three interception returns for TDs.
“I couldn’t be more proud of our team and just where we’re going,” linebacker Jonathon Cooper said. “It's really important that we get our rest this bye week and come back and look at the film and keep it rolling.”
The tandem of Nix and Marvin Mims Jr. They connected on a 93-yard touchdown pass, which is tied for the fourth longest in team history. It's the longest since Jay Cutler found receiver Eddie Royal for a 93-yard score at Cleveland on Nov. 6, 2008. To celebrate, Mims jumped into the stands. “Nobody else was close to me, so I was like: ‘You know what? I’ll jump in the stands,’" he said. “I got grabbed a lot up there. It was cool.” The Broncos had a pair of 100-yard receivers in Mims (105 yards) and Courtland Sutton (102).
The defense could use some shoring up after allowing 552 yards of total offense. The Browns were 2 of 2 on fourth down conversions and had 28 first downs. “Through all the bad things, we just stuck together,” McMillian said. “We didn’t split up. We stayed together and kept fighting to the end.”
Wil Lutz. The kicker hit both field goals and all five extra points to eclipse 1,000 career points in his 127th game. He's the fifth-fastest player to reach the milestone mark.
Levi Wallace. The Browns picked on the cornerback as he tried to cover Jeudy. Denver did stick star cornerback Pat Surtain II on Jeudy at times in an effort to contain him. “He definitely had himself a game,” Surtain said of Jeudy, his teammate with the Broncos and in college at Alabama.
Cornerback Riley Moss (knee) was sorely missed as the Broncos struggled to contain Jeudy, Elijah Moore (eight catches, 111 yards) and tight end David Njoku (nine catches, 52 yards and two scores).
On Tuesday, the Broncos waived receiver Josh Reynolds, who's been on injured reserve after breaking his finger against Las Vegas in Week 5. Reynolds missed the New Orleans game on Oct. 17 and stayed behind in Denver. He and his companions were the victims of a drive-by shooting later that night after leaving a strip club. Of the bullets fired at the vehicle, one struck Reynolds in the left arm and another grazed the back of his head.
Reynolds had 12 catches for 183 yards and one TD with Denver this season.
5 — For the fifth time in team history, the Broncos returned two interceptions for touchdowns in a game. The previous time Denver had a pair of pick-6s in the same game was Oct. 18, 2018, at Arizona by Todd Davis and Chris Harris Jr.
A week off and then a critical home game against Indianapolis on Dec. 15.
AP NFL: https://apnews.com/hub/NFL
Denver Broncos cornerback Ja'Quan McMillian, back center, is congratulated by fans after returning an interception for a touchdown in the second half of an NFL football game against the Cleveland Browns, Monday, Dec. 2, 2024, in Denver. (AP Photo/David Zalubowski)
Denver Broncos cornerback Ja'Quan McMillian, center, celebrates with fans after returning an interception for a touchdown in the second half of an NFL football game against the Cleveland Browns, Monday, Dec. 2, 2024, in Denver. (AP Photo/David Zalubowski)
Cleveland Browns wide receiver Jerry Jeudy reacts after his successful 2-point conversion during the second half of an NFL football game against the Denver Broncos, Monday, Dec. 2, 2024, in Denver. (AP Photo/Jack Dempsey)
Cleveland Browns running back Nick Chubb (24) celebrates his 5-yard reception for a touchdown with wide receiver Jerry Jeudy during the second half of an NFL football game against the Denver Broncos, Monday, Dec. 2, 2024, in Denver. (AP Photo/David Zalubowski)
Denver Broncos quarterback Bo Nix celebrates with fans following an NFL football game against the Cleveland Browns, Monday, Dec. 2, 2024, in Denver. (AP Photo/Jack Dempsey)
Denver Broncos quarterback Bo Nix throws during the first half of an NFL football game against the Cleveland Browns, Monday, Dec. 2, 2024, in Denver. (AP Photo/Jack Dempsey)
Denver Broncos fans cheer for quarterback Bo Nix during the first half of an NFL football game against the Cleveland Browns, Monday, Dec. 2, 2024, in Denver. (AP Photo/Jack Dempsey)
Denver Broncos linebacker Justin Strnad, left, linebacker Nik Bonitto, center, and defensive end Zach Allen (99) celebrate the 71-yard interception for a touchdown by Bonitto during the first half of an NFL football game against the Cleveland Browns, Monday, Dec. 2, 2024, in Denver. (AP Photo/Jack Dempsey)
Denver Broncos linebacker Nik Bonitto (15) picks off a pass intended for Cleveland Browns tight end Jordan Akins (88) and returns the ball 71-yards for a touchdown during the first half of an NFL football game, Monday, Dec. 2, 2024, in Denver. (AP Photo/Jack Dempsey)
Denver Broncos linebacker Nik Bonitto (15) outruns Cleveland Browns tight end Jordan Akins for a 71-yard interception return for a touchdown during the first half of an NFL football game, Monday, Dec. 2, 2024, in Denver. (AP Photo/David Zalubowski)
Cleveland Browns quarterback Jameis Winston (5) is sacked by Denver Broncos linebacker Nik Bonitto during the second half of an NFL football game, Monday, Dec. 2, 2024, in Denver. (AP Photo/David Zalubowski)
