“Because of ATI’s well-known history of cooperation with the U.S. defense industry, and because the proposed joint venture is expected to lead to the erosion of critical U.S. stainless steel manufacturing capability, the joint venture threatens to impair the national security of the United States,” Bevin wrote to Mnuchin.
Bevin mentions the efforts by the Trump administration and Mnuchin to intervene in a similar proposed $2.3 billion merger between U.S. aluminum producer Aleris and Chinese firm Zhongwang USA, LLC, last year—which ended up blocking the deal through the Committee on Foreign Investment in the United States (CFIUS).
Burns continued in his report by noting that Zhongwang had two “factors” working against it: U.S. manufacturers raising significant concerns about Chinese infiltration into the U.S. aluminum industry, and evidence that Zhongwang had a connection to “the stockpiling of thousands of tons of aluminum in Mexico, suspected of either being illegally exported from China under misreported tariff codes, or diverted to Mexico when it became clear they could not be legally imported into the U.S. without incurring anti-dumping duties.”
Leo Gerard, the president the United Steelworkers union, appeared on CNN in January to rip Trump after some steelworkers unions were initially pleased with Trump, to some degree, at the beginning of the administration in early 2017.
According to the White House press pool reports from the National Journal’s George Condon, in Tuesday’s meeting Republicans like Sens.