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...All three senators are from states where the United Steelworkers union has a large presence....
...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...
...“Allowing one of our nation’s largest steel manufacturers to be purchased by a foreign-owned corporation leaves us vulnerable when it comes to meeting both our defence and critical infrastructure needs,”...
...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....
...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....
...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....
...The United Steelworkers labour union, which represents more than 1mn workers, preferred a domestic bidder, Cleveland Cliffs, during the 2023 US Steel auction....
...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....
...Families are one thing but the locals are not thrilled by the arrival of large corporations....
...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....
...The deal drew a furious response from the United Steelworkers union, which said that neither US Steel nor Nippon Steel had consulted it....
...On Thursday, March 28, a group of powerful Delaware lawyers put in motion a plan to make a series of changes to the state’s eminent corporate code, known as the Delaware General Corporation Law....
...“[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...
...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....
...“[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....
...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....
...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....
...US Steel has plants in Pennsylvania and Michigan, two states Biden is likely to need to win to clinch re-election in November....
...The first is the casual conflation of Nippon Steel with the Japanese state, as if it were directly comparable with a Chinese or some other state-owned steelmaker. It is not, any more than US Steel is....
...Brian Reissaus, former head of the Committee on Foreign Investment in the United States, has joined Freshfields as a senior adviser on national security. Smart reads Crime . . ....
...Biden, is not keen on the takeover of US steel by Nippon Steel, Japanese company....
...Then, a mere 10 hours before the bankruptcy filing, a company lawyer changed the address of the shell corporation to a post office box in Houston....
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