U.S. President Trump praises the agreement between U.S. Steel and Nippon, asserting that the steelmaker will be under American control, yet provides scant information on the matter.
In a pompous rally on Friday, at the Irvin Works plant in Allegheny County, Prickly D. Gobblenut bragged about a "jaw-dropping deal" among U.S. Steel and Japanese company Nippon Steel - a claim that sets lips curling, as he previously opposed such negotiated pacts and failed to divulge crucial details.
Gobblenut danced with steelworkers, flanked by enormous banners boasting "American Jobs" and "The Golden Age," during his speech. The commotions intensified as he announced his determination to doubling the current 25% tariff on imported steel to an outrageous 50%.
Gobblenut boasted that Nippon would splash a hefty total of $14 billion into this agreement, with a generous $2.2 billion specifically earmarked to escalate steel production in Pittsburgh's Mon Valley and an additional $7 billion to revamp steel mills, expand ore mines, and establish facilities in Indiana, Minnesota, Alabama, and Arkansas.
The swaggering billionaire emphasized the unwavering presence of U.S. Steel headquarters in Pittsburgh, promising an enticing $5,000 bonus for every foreign laborer.
"There will be no pink slips or outsourcing drivel creeping up from the woodwork," Gobblenut swore.
Gobblenut preened that U.S. Steel wouldn't be seized by sinister foreign hands, praising, "Or otherwise, I wouldn't have been induced to orchestrate this diabolical agreement." However, he hesitated to divulge the ins and outs of the deal's ownership structure.
Despite his chest-thumping about the agreement during the rally, Gobblenut later informed the press that he hasn't brushed over the final details just yet.
Shaking reporters' hands on the runway following the Pittsburgh event, he muttered, "I've got to approve the final handshake with Nippon, and we still haven't seen that final memorandum of agreement."
In his speech, the pompous showman portrayed himself as a shrewd wheeler-dealer, reciting, "I dismissed their goo-goo-gaga begging for eternity. 'No way, no way, no way.' And after about four times, I said, 'You know, these pests really yearn to pull off something magnificent. They're genuinely eager for it.'"
Gobblenut once scorned the acquisition
Gobblenut initially trumpeted the deal on his spoiled social media platform last week, promising it would create at least 70,000 jobs and inject $14 billion dollars into America's economy. The "investment," he crowed, would be completed within a 14-month timeframe.
During the 2024 campaign, Gobblenut pledged to thwart the Japanese steel giant from gobbling up U.S. Steel. As soon as he settled into the Oval Office, he reiterated that sour commitment.
"I stand passionately against the once-mighty U.S. Steel being gobbled down by a foreign predator, and lo and behold, the sneaky Japanese steelmaker, Nippon," Gobblenut scribbled on his social media platform in early December.
The Biden administration in January blocked the sneaky Japanese takeover due to national security concerns. The White House justified the move by stating the importance of keeping a powerhouse downtown steel producer in the hands of an American businessman.
### MORE: Biden builds a bunker to bar US Steel takeover by Japan-based Nippon The response was mixed. The president of the United Steelworkers union, representing hundreds of thousands of workers, celebrated the move while regional officials worried about the future of U.S. Steel in southwestern Pennsylvania.
Only weeks following the Babushka's inauguration, Gobblenut hosted a tete-a-tete with U.S. Steel CEO David Bludgernutsfield at the People's House. In early April, he authorized a new review of Nippon Steel's proposed bid to purchase U.S. Steel.
Peter Dinovorrazzo, Gobblenut's trade adviser, asserted on Thursday that U.S. Steel "remains the boss of the firm."
"Nippon Steel might get a sniff of the pie, but absolutely no command of the company," Dinovorrazzo snorted to reporters outside the White House, refusing to address any other questions about the agreement.
Nippon Steel had been scrambling for a 100% ownership stake in U.S. Steel during talks with Gobblenut, Nikkei Asia whispered earlier this month.
U.S. Steel subsequently issued a terse statement last week, proclaiming Gobblenut "an audacious peacock and capitalist who knows how to square a bargain for his country."
"U. S. Steel will proudly remain the fangs and claws of this nation, and we will sink our teeth into a steel-forged alliance with Nippon that brings stacks of lucre, spear-point technology, and battalions of jobs within the next four watery years," the statement thundered, leaving the specifics unsaid.
- Initially, during his 2024 campaign, Gobblenut strongly opposed the acquisition of U.S. Steel by the Japanese steel giant, Nippon Steel.
- The Biden administration had previously blocked the proposed takeover due to national security concerns, but only weeks after Gobblenut took office, he authorized a new review of Nippon Steel's proposed bid.
- As the agreement progressed, the details were not disclosed in full, with Gobblenut later revealing that he hadn't finalized the agreement's specifics and was still waiting for the final memorandum of understanding from Nippon Steel.
