Catch-up w/Rep. Khanna. U.S. Steel, and are we buying/selling U.S. companies now, with a wink and a nod?

Woven Storyline (Stay with me, it all comes together in the end.)

This story matters to me, b/c I’m a kid from PA, where American made steel was a tactile part of my upbringing.

ArcelorMittal: Luxembourg firm attempts to buy US Steel after donating 37 million dollars worth of product, to Trump’s ballroom.
On Sunday, Trump lashed out at Ro Khanna in a TS post, criticizing his Faux News appearance and accusing him of misrepresenting the state of the steel industry.

Ro Khanna’s retort: “The man building a ballroom with foreign steel, probably shouldn't call himself the champion of American steel.”

For Context ~ Congressman Khanna appeared on Fox News's The Sunday Briefing with anchor Jacqui Heinrich. He discussed Chinese steel arriving at American ports and called for stronger action to protect domestic manufacturing.

Mr. Khanna is the ranking member on the Select Committee on China. He just finished a Heartland tour through Pennsylvania, Ohio, and Michigan. Steel country, auto country, working-class country.

https://www.luxtimes.lu/businessandfinance/arcelormittal-lucks-into-a-windfall-worth-billions/72721077.html

Nov. 18, 2025 ~ At an Arkansas Chamber of Commerce meeting, Sarah Huckabee Saunders stated: “At U.S. Steel, we’re delighted to call Arkansas home to one of the most dynamic chapters in our nearly 125 year history.”

Think about it: just a few years ago, people thought the American steel industry’s best days were behind it. They said we couldn’t compete. They said we couldn’t innovate. They said we couldn’t grow. We were yesterday’s news … an industry of the past.

Well, they need to take a trip to Mississippi County. Because that’s where the American steel comeback is happening—right now.

Actually, not just the steel comeback … the American comeback, period.

“U. S. Steel has invested $7 billion in Arkansas—with billions more on the way. We’ve created nearly 5,000 jobs here.

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~ Six months later: We’re Selling US Steel to ArcelorMittal. ~


https://www.ussteel.com/prereleases/-/blogs/arkansas-the-beating-heart-of-america-s-steel-comeback

https://www.manufacturingdive.com/news/arcelormittal-steel-plant-alabama-trump-tariffs/739713/

Snip ~ April 30 (Reuters) - ArcelorMittal said it had donated ‌steel for a White House ballroom ‌project backed by the president.
The Luxembourg-based steelmaker's donation is ongoing and it has delivered 600 tons for the project to date, according to finance chief Genuino Christino, who disclosed ‌the contribution on a call with analysts.

https://finance.yahoo.com/sectors/technology/articles/arcelormittal-donates-steel-trump-ballroom-152535990.html

ArcelorMittal is getting a lucky break that gives it a $1.5 billion boost to its bottom line and a route to dodge US President Donald Trump’s steel tariffs.
ArcelorMittal’s partner in a US production factory (Nippon. Formerly, US Steel), that cost at least $7 billion to build and update is handing over its 50% share to the Luxembourg steel giant. ArcelorMittal also is collecting one dollar + $900 million in cash and loans from Nippon Steel.

Backstory, less than one year later ↓

On June 13, 2025 ~ Trump issued an executive order enabling Japanese company Nippon Steel to acquire U.S. Steel after 18 months of uncertainty. In doing so, he reversed a prior January 3 decision by former President Joe Biden to block the deal on national security grounds.
Nippon Steel ~ Part of negotiations with the US, was to acquire US Steel. Nippon Steel agreed to give the US government veto power over significant decisions affecting American jobs.

]https://www.luxtimes.lu/businessandfinance/arcelormittal-lucks-into-a-windfall-worth-billions/72721077.html