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...All three senators are from states where the United Steelworkers union has a large presence....
...Tata Steel is receiving £500mn of state support to help its transition to producing green steel through electric arc furnaces, which are less carbon-intensive and require fewer workers....
...Speaking before the unions filed the petition, USW president David McCall told the FT: “The United States was once a leader in the commercial shipbuilding industry, but over the past two decades, the Chinese...
...US Steel is headquartered in Pennsylvania, a vital swing state in November’s presidential election. Donald Trump has said he would block the Nippon deal — posing a dilemma for Biden....
...The United Steelworkers labour union, which represents more than 1mn workers, preferred a domestic bidder, Cleveland Cliffs, during the 2023 US Steel auction....
...United Steelworkers said on Thursday....
...It’s worth noting that Japan is the largest foreign investor in the United States, directly employing nearly a million American workers....
...Yet when President Joe Biden visited on Wednesday, his only stop was to the headquarters of the United Steelworkers....
...It also comes less than a month before Japanese Prime Minister Fumio Kishida is set to arrive in Washington for a state visit....
...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....
...Yellen chairs the Committee on Foreign Investment in the United States (Cfius), an inter-governmental agency that vets deals for whether they may harm national security....
...The company announced in January a consultation on its proposals to invest £1.25bn to build a state of the art electric arc furnace, which Tata has said would secure steelmaking in the UK....
...US President Joe Biden is pushing for tariffs to triple on Chinese steel and aluminium, as he seeks to boost union support in the swing state of Pennsylvania....
...US President Joe Biden plans to express serious concern over Nippon Steel’s proposed purchase of US Steel, a move that could threaten the deal’s progress and anger Japan, one of Washington’s closest allies...
...“[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....
...“[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....
...US Steel itself has just over 20,000 workers, half the number of employees at Penn State university. As I noted last week, US trade policy is disturbingly vibes-based....
...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 ruined temples and palaces of south India’s Vijayanagar empire rise from an enigmatic landscape of giant boulders and banana groves in Karnataka state....
...The deal drew a furious response from the United Steelworkers union, which said that neither US Steel nor Nippon Steel had consulted it....
...On Wednesday he vowed to keep US Steel in American ownership, and called for higher tariffs on Chinese steel and aluminium imports in a bid to shore up support with unions....
...US Steel has plants in Pennsylvania and Michigan, two states Biden is likely to need to win to clinch re-election in November....
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