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...US Steel....
...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...
...US President Joe Biden has come out against Nippon Steel’s proposed purchase of US Steel, saying it is “vital” for the “iconic American steel company” to remain “domestically owned and operated”....
...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...
...Trump said it was a “horrible thing” that US Steel might be sold to a foreign entity. “We saved the steel industry, now US Steel is being bought by Japan,” Trump added. “It’s so terrible.”...
...Steel has none of the sensitivities of high-tech social media; US Steel is not a direct supplier to the military....
...On Thursday, President Joe Biden threw cold water on Nippon Steel’s pending $15bn acquisition for US Steel, once a national icon. He said US-steel should remain American....
...Joe Biden plans to intervene in Nippon Steel’s proposed purchase of US Steel, a move that could threaten the deal and anger Japan, one of Washington’s closest allies....
...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....
...Nippon Steel, the world’s fourth-largest steelmaker, has agreed to pay $55 per share in cash for US Steel but investors’ uncertainty about the outlook for the deal have left the US group’s shares well below...
...“I have worked at US Steel for 23 years and I have never felt nervous about my job until now,” said Don Furko, president of USW Local 1557, which represents US Steel employees in Clairton, Pennsylvania....
...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....
...Joe Biden has thrown his support behind investigating 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....
...The US Treasury declined to comment on the letter. Read more on Nippon Steel’s deal here...
...Nippon Steel has agreed to buy US Steel in a deal that values its American rival at $14.9bn, in the Japanese group’s biggest ever acquisition....
...It’s not the same as colonial impact, when so much was taken from us.”...
...The US official argued that since imports of Chinese steel were “quite small” at 0.6 per cent of total US steel demand, there would be little impact on inflation, a key electoral concern for Biden....
...In the US, for every job in steel production, there are around 14 jobs in industries that use steel intensively....
...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....
...Shares in US Steel closed down 2.4 per cent on Tuesday at $48.38, below Nippon Steel’s $55 per share offer price....
...A Cleveland-Cliffs/US Steel combination would have created a US national champion....
...Come and join us at the forthcoming 13th ministerial conference, in Abu Dhabi. And we will certainly be back at COP29 with new developments on carbon measurements....
...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....
...When she released her acclaimed debut album Dark Energy in 2015, Jlin was working in a steel mill operating heavy machinery....
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