Nippon Steel Defends U.S. Steel Buy as Biden, Harris, Trump Oppose Acquisition

Nippon Steel is pushing ahead with its $15 billion bid to acquire U.S. Steel amid mounting political opposition. Nippon Steel proposes that U.S. citizens would hold key leadership roles, arguing the acquisition will bolster U.S. national security by enhancing domestic steel production and supply chains. President Biden, Vice President Harris, and former President Trump all oppose the sale of U.S. Steel, stressing the need to keep the company American-owned. The United Steelworkers union supports this opposition, citing concerns about the impact on workers and national security.