Steel for Sale | God's World News
Steel for Sale
Time Machine
Posted: March 01, 2024
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    United States Steel’s Edgar Thomson Plant in Braddock, Pennsylvania (AP/Gene J. Puskar)
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    Nippon Steel Corporation’s logo is shown on a sign outside its headquarters in Tokyo, Japan. (AP/Hiro Komae)
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    A portion of US Steel’s Edgar Thomson plant in Braddock, Pennsylvania, in December 2023 (AP/Gene J. Puskar)
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    Workers salvage and reuse some beams and other steel work from New York City’s Brooklyn Bridge in 1950. (AP/Robert Kradin)
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    The Bethlehem Steel plant rises above homes and a cemetery in Bethlehem, Pennsylvania, in 2007. The plant produced the skeleton of Rockefeller Plaza, beams for the Golden Gate Bridge, and armor plate for countless warships. (AP/Matt Rourke)
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Skyscrapers. Tanks. Railroads.

What do they have in common?

All require steel.

Steel is an extra-strong and useful kind of metal. For years, most steel came from the United States. And most of that came from the United States Steel Corporation. That company is better known as U.S. Steel.

Steel yourselves for some big news: The United States isn’t the biggest steel maker anymore. It’s not even the second biggest. It’s fourth! China, India, and Japan all make more.

U.S. Steel once stood as a symbol of America’s business strength. But this year, the corporation is for sale. Who’s buying? Nippon Steel Corporation—a company from Japan. The price tag? More than $14 billion.

Once upon a time, many Americans worked in steel mills. Not so much in the last 40 years. Mills that supported entire cities now sit abandoned. The famous Bethlehem Steel Mill in Pennsylvania isn’t a bustling factory anymore. It’s a museum.

People once called U.S. Steel the “company that built America.” What will it mean for that same company to be owned by Japan? Americans still need steel. Automakers use it every year to build cars.

The deal will likely become final in the middle of this year. When it does, U.S. Steel will keep its name. It will still be located in Pittsburgh, Pennsylvania.

Nippon company owners promise to treat U.S. Steel employees well. David Burritt runs U.S. Steel. He says the sale will actually benefit the United States. Steel will still be made in America—even though Japanese people own the mill.

Another David, David McCall, isn’t so sure. He’s president of the United Steelworkers International union. He is concerned that American workers might lose opportunities.

Some trust in chariots and some in horses, but we trust in the name of the Lord our God. — Psalm 20:7

Why? Steel is big business. But it also has a big history.