US Senator John Fetterman has taken a stand against the proposed multibillion-dollar sale of US Steel to Japanese company Nippon Steel, labeling the potential deal as "outrageous." Fetterman, a former mayor of Braddock, Pennsylvania, a town that is home to a major US Steel plant, has long been a champion for American steelworkers and a pro-union Democrat.

In a video posted on an undisclosed platform, Fetterman expressed his strong opposition to the $14.9 billion acquisition, criticizing US Steel for selling itself "to a foreign nation and company." Fetterman emphasized the importance of steel to national security and vowed to use his position to block the sale, stating, "I'm going to fight for the steelworkers and their union way of life here as well, too."

The acquisition, which was announced on Monday, triggered a significant increase in US Steel's stock price, soaring by 25%. The company confirmed the deal on Tuesday, announcing that its board had unanimously approved the acquisition. US Steel praised Nippon Steel as a global leader in steelmaking, innovation, and decarbonization.

However, the United Steelworkers (USW) union condemned Nippon Steel for agreeing to the acquisition without prior approval from the union. USW's president, David McCall, described the deal as "greedy" and a "violation" of the union agreement, which stipulates that any buyer of US Steel must agree to a new labor agreement before completing the sale. McCall expressed disappointment that neither US Steel nor Nippon Steel had reached out to the union regarding the deal, deeming it a breach of their partnership agreement.

It is worth mentioning that a previous buyout offer in August, valued at $7.3 billion, by rival company Cleveland Cliffs, faced rejection from US Steel. The USW union had supported Cleveland Cliffs' offer, citing the company's commitment to preserving US-based manufacturing and its track record of not cutting jobs during previous acquisitions in 2019 and 2020.

Senator Fetterman's opposition to the sale reflects the concern over the potential consequences for American steelworkers and the importance of maintaining domestic control over critical industries. As the debate unfolds, the fate of this multibillion-dollar deal hangs in the balance, with the interests of steelworkers, unions, and economic stability at stake.