HuffPost: “McCormick […] Helped Open up China to U.S. Investment” And Then “Profited from the Lower Investment Barriers He Lobbied For”
Steelworkers Call Out McCormick for Making “Millions Investing in U.S. Steel’s Competitors”
PENNSYLVANIA — Today, United Steelworkers District 10 Director Bernie Hall continued the Don’t Trust Dave Tour by holding a virtual press conference to call out a new Huffpost report detailing how David McCormick helped open up China to U.S. investment then profited from the lower investment barriers he lobbied for. The report also highlights how McCormick’s work “made offshoring jobs easier” and how he “showed no concern” that his work could aid in the loss of millions of US jobs.
“The bottom line is David McCormick made his fortune by investing with China and other foreign companies. He’s worked to enable the offshoring of American jobs,” said United Steelworkers District 10 Director Bernie Hall. “Working men and women can’t trust someone that puts their bottom line ahead of Pennsylvania workers.”
Get the Full Picture of McCormick’s Record of Betting Against American Workers:
David McCormick profited from China trade policies he helped shape.
- David McCormick “helped open up China to U.S. investment” as an official in the Bush administration, then, as a hedge fund manager he profited from the lower investment barriers he lobbied for.
- His work “actually made offshoring jobs easier.”
- McCormick also bemoaned growing calls in the U.S. for restrictions on trade with China.
- McCormick “showed no concern” about the estimated loss of 2.4 million US jobs due to the normalization of trade with China.
- By expanding the presence of U.S. banks and other investment firms in China, McCormick’s work expedited the offshoring of domestic U.S. manufacturing jobs.
David McCormick made millions investing in U.S. Steel’s competitors.
- McCormick invested hundreds of thousands of dollars in U.S. Steel’s competitor.
- McCormick holds anywhere from $250,000 to $500,000 in ArcelorMittal.
David McCormick has a long record of supporting and enabling outsourcing.
- McCormick said “I don’t really care” if Pennsylvania jobs are shipped overseas during a closed-door campaign event.
- McCormick taught other companies how to outsource jobs.
- McCormick admitted to – and even bragged about – his record of shipping jobs overseas.
- McCormick invested up to $92 million in companies that outsourced American jobs — over 2,600 of which were in Pennsylvania.
David McCormick has opposed initiatives aimed at keeping manufacturing jobs in America.
- McCormick said his first priority if elected Senator of Pennsylvania would be to repeal the bipartisan infrastructure law, killing thousands of good-paying jobs in Pennsylvania that the law is projected to create for years to come.
- McCormick criticized “Buy American” provisions.
- McCormick refused to support Trump’s tariffs on China.
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