Nippon Steel's Vice Chair, Takahiro Mori, reassured the U.S. steelworkers that the company would not import steel from its other mills, addressing the misinformation regarding their proposal.
Trump expressed strong opposition to the U.S. Steel acquisition, emphasizing his intention to block foreign purchases through tax incentives and tariffs to bolster American steel.
Biden and Vice President Harris have indicated opposition to the deal, reflecting political calculations linked to the upcoming 2024 election in Pennsylvania.
CFIUS is reviewing the deal for national security implications, as the acquisition comes at a time of heightened scrutiny over foreign investments in U.S. assets.
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