Holcomb: You can't be 'isolationist' about U.S. Steel acquisition by Japanese company
Gov. Eric Holcomb said the sale of U.S. Steel to a Japanese company reflects the need to remain competitive in a global marketplace.
U.S. Steel has three facilities in Indiana, including its largest manufacturing plant, which is in Gary.
Lawmakers at both the state and federal level expressed disappointment at the company’s sale to Nippon Steel Corporation. U.S. Rep. Frank Mrvan (D-Highland) accused the Japanese company, which he said has “a history of untrustworthy trade actions,” of exploiting American workers.
Holcomb said the sale is a reminder that an “isolationist” perspective doesn’t work.
“You have to be able to compete on a global stage if you want to stay in business and grow,” Holcomb said.
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Holcomb said he’s still “sifting through” the finer details of what the sale will mean for contracts U.S. Steel has in place with the United Steelworkers union.