Debate on President Biden's opposition to U.S. Steel-Nippon Steel deal and calls to dump Kamala Harris
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Nippon Steel Corp has stated that its proposed $14.9 billion acquisition of US Steel will not result in layoffs or plant closures. The company issued a statement addressing the concerns of the president and the United Steelworkers (USW) union, committing to invest $1.4 billion, increase the current collective bargaining agreement by over 140%, and ensure no layoffs or plant closures as a result of the deal. The proposed acquisition is subject to review by the Committee on Foreign Investment in the United States (CFIUS). US Steel expects the deal to close later this year and believes it will lead to innovation and digital transformation in the steel industry. The United Steelworkers Union (USW) has expressed concerns about the long-term impacts of the sale on the economy and national securi...
#newstr #NipponSteel #UsSteel #Merger #SteelIndustry #JobCreation #EconomicGrowth