3 days ago
Rump Reiterates U.S. Steel To ‘Remain American Company'; Pledges No Layoffs, Furnaces at Full Capacity for 10 Years
Hiroyuki Tanaka / The Yomiuri Shimbun
Nippon Steel Corp. Vice Chairman Takahiro Mori, right, delivers a speech beside U.S. Steel CEO David Burritt, left, at a rally in West Mifflin, Penn., on Friday.
WEST MIFFLIN, Penn. — U.S. President Donald Trump reiterated that he welcomed Nippon Steel Corp. only as a partner for U.S. Steel Corp., at a rally held Friday in West Mifflin, Penn.
Trump appears to believe that he can tout huge investments in and the preservation of jobs at U.S. Steel as his achievements, while the U.S. government maintains influence over the steelmaker's management on the grounds that it is necessary for national security.
In his address Friday, Trump said that Pittsburgh, where U.S. Steel's head office is located, 'will be respected around the world as the steel city again.'
As in earlier remarks, Trump did not use the word 'purchase,' presumably because he did not want to damage his trademark image of 'America first.'
Trump told the audience, 'You're going to stay an American company' and that U.S. Steel would continue to be 'controlled by the USA,' appealing to employees of U.S. Steel attending the rally.
The president also showed a conciliatory attitude toward Nippon Steel. He mentioned company Vice Chairman Takahiro Mori, who spoke before Trump at the rally, saying that the purchase plan is a business deal that Mori had considered for many years.
'Thank you, Takahiro,' Trump said at one point.
Trump did not mention any details about Nippon Steel's acquisition plan, but he repeatedly referred to the practical management of U.S. Steel. He said, for example, that U.S. Steel's blast furnaces will continue to be operated at full capacity for the coming 10 years and employees will not be laid off.
These remarks were apparently meant to show consideration for U.S. Steel employees and voters in Pennsylvania, as Trump had been negative in the past about Nippon Steel's plan to purchase U.S. Steel.
Trump revealed that Nippon Steel will invest $14 billion to improve blast furnaces and other facilities.
An executive of Nippon Steel praised Trump's stance after listening to his address. 'He also spoke about investments after the purchase and the provision of bonuses. We clearly saw progress in his remarks in this speech,' the executive said.
Hiroyuki Tanaka / The Yomiuri Shimbun
Nippon Steel Corp. Vice Chairman Takahiro Mori, right, delivers a speech beside U.S. Steel CEO David Burritt, left, at a rally in West Mifflin, Penn., on Friday.
SNS: U.S. President Donald Trump reiterated that Nippon Steel Corp. is only a partner for U.S. Steel Corp., at a rally held Friday in Pennsylvania
