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...All three senators are from states where the United Steelworkers union has a large presence....
...The American steel industry has become a political issue in the 2024 presidential election after Nippon Steel last year launched a $14.9bn takeover of US Steel, headquartered in Pittsburgh, a city in the...
...Shougang supplies steel to the Chinese military. The study examined the material limits of a class of advanced high-strength steel that has been proposed for use in civil and military applications....
...Though cross-border acquirers do not always keep their word, Nippon has pledged not to shift production or US jobs overseas, and to honour bargaining agreements with the United Steelworkers union....
...United Steelworkers said on Thursday....
...The United Steelworkers labour union, which represents more than 1mn workers, preferred a domestic bidder, Cleveland Cliffs, during the 2023 US Steel auction....
...Following talks with Nippon Steel last week, the United Steelworkers said the meeting yielded “no progress”....
...Yet when President Joe Biden visited on Wednesday, his only stop was to the headquarters of the United Steelworkers....
...Since Nippon Steel agreed to buy US Steel for $14.9bn in mid-December, the deal has faced a bipartisan backlash in Washington against the sale of a US manufacturing icon to a foreign entity....
...The deal has also been greeted with hostility by the United Steelworkers union, which said neither Nippon Steel nor US Steel had consulted it in advance....
...Read more on the president’s push to raise prices on imported Chinese steel and what it could mean for the election....
...Investors cheered, with shares in US Steel rising 26.1 per cent the day it was announced. But the merger is opposed by the United Steelworkers labour union....
...“[Cfius] can and should block the acquisition of US Steel by NSC, a company whose allegiances clearly lie with a foreign state and whose record in the United States is deeply flawed,” the senators wrote....
...She is also set on Wednesday to unveil a probe into unfair practices in the Chinese shipbuilding industry, following a petition from United Steelworkers....
...“[Cfius] can and should block the acquisition of US Steel by NSC, a company whose allegiances clearly lie with a foreign state and whose record in the United States is deeply flawed,” wrote JD Vance of Ohio...
...Members of the US’s United Steelworkers union voiced dismay about the deal, saying they had been excluded from negotiations. They would have preferred a transaction with Cleveland-Cliffs....
...Joe Biden is preparing to oppose Nippon Steel’s proposed $14.9bn purchase of US Steel, a move that is likely to upset one of Washington’s closest allies but delight key voters in the rustbelt....
...The deal drew a furious response from the United Steelworkers union, which said that neither US Steel nor Nippon Steel had consulted it....
...Joe Biden has thrown his support behind an investigation of Nippon Steel’s purchase of US Steel on national security grounds, despite Japan’s status as one of Washington’s closest allies....
...US steel unions have asked President Joe Biden to open a trade investigation into alleged Chinese unfair economic practices in the shipbuilding and maritime logistics sectors....
...Cleveland had also secured the backing of the United Steelworkers union....
...But US Steel hasn’t been that US Steel for more than half a century....
...Activist investor Cevian Capital has taken a €1.2bn stake in UBS, and Nippon Steel has agreed to buy US Steel in a $14.9bn deal....
...United Steelworkers has been pivotal in urging Joe Biden to block the nearly $15bn acquisition of US Steel by Japan’s Nippon Steel in an effort to protect American jobs and national security....
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