Republican David McCormick addresses supporters at the Heinz History Center in Pittsburgh after announcing he will enter Pennsylvania's U.S. Senate race and make his second bid for the office, this time to take on Democratic Sen. Bob Casey, Thursday, Sept. 21, 2023. (AP Photo/Gene J. Puskar)

After the sale of U.S. Steel to Japanese megacorporation Nippon Steel was announced Monday, Pennsylvania Republican Senate candidate David McCormick blamed the Biden administration’s economic policies despite himself making millions investing in U.S. Steel’s competitors.

McCormick took to X (formerly Twitter) to criticize not only President Joe Biden, but his probable 2024 general election opponent, Sen. Bob Casey (D).

Despite blaming Democratic economic policies on the U.S. Steel deal, McCormick invested hundreds of thousands of dollars in the Pennsylvania based company’s competitor ArcelorMittal. The Luxemburg-based company is one of the largest producers of steel in the world, and McCormick holds anywhere from $250,000 to $500,000 in ArcelorMittal corporate bonds, according to his previous financial disclosure reports. During his time as a hedge fund manager, McCormick played a part in thousands of U.S. jobs being outsourced overseas, including in his “home state” of Pennsylvania.  McCormick is currently the frontrunner on the Republican side vying for Casey’s seat.

Casey’s responded to the $14 billion deal in a press release, calling it a “bad deal for Pennsylvania workers.” Fellow Sen. John Fetterman (D-PA), who lives across the street from a U.S. Steel plant in Braddock, condemned the deal in a video and vowed to block it in any way he can.

U.S. Steel was founded by banker J.P. Morgan in 1901 when he financed the merger of several smaller steel companies. As of December 2022, U.S. Steel had more than 14,000 active employees working in the United States.