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...All three senators are from states where the United Steelworkers union has a large presence....
...“We have seen the [People’s Republic of China] create dependencies and vulnerabilities in multiple sectors, like steel, aluminum, solar, batteries and critical minerals, harming American workers and businesses...
...“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....
...China’s export volumes rose by 14 per cent year on year for the first quarter, even as their value fell 12 per cent, according to Morgan Stanley....
...US Steel’s shares dropped a further 6.4 per cent to $38.26 on Thursday, having fallen by more than 12 per cent on Wednesday....
...“It is important that we maintain strong American steel companies powered by American steel workers,” Biden said in a statement on Thursday....
...US Steel’s shares fell more than 12 per cent after the Financial Times published details of Biden’s intentions....
...cent as the president tries to shore up support among union workers in Pennsylvania ahead of November’s election....
...The United Steelworkers labour union, which represents more than 1mn workers, preferred a domestic bidder, Cleveland Cliffs, during the 2023 US Steel auction....
...In raising concerns over the deal Biden did not refer to national security, speaking only of the need to maintain “strong American steel companies powered by American steel workers”....
...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....
...Steelworkers, the union that represents the workers....
...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,” wrote JD Vance of Ohio...
...Tata Steel plans to lay off about 2,800 workers as part of a major restructuring of its UK operations, dealing a blow to what was once one of the country’s biggest industries....
...Nippon Steel’s bid has drawn cross-party concern in Washington, despite some local support in Pittsburgh....
...A Japanese foray into US dealmaking four decades ago raised the hackles of locals and proved financially disappointing for the incomers. The former is already true of Nippon Steel’s offer....
...The United Steelworkers union, which is also based in Pittsburgh and represents 1mn workers, has opposed the deal and Biden’s rival Donald Trump has called the takeover “horrible” and said he would oppose...
...The deal drew a furious response from the United Steelworkers union, which said that neither US Steel nor Nippon Steel had consulted it....
...The brewers, butchers, local builders, steel-mill magnates, property tycoons and pawnshop operators who were among the earlier generation of football club owners have largely been replaced in recent times...
...Regarding the article “India bets on worker dormitories as businesses pivot from China” (Report, December 12), it’s true that Apple and Foxconn should appreciate that every country has its “cultural...
...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....
...But US Steel hasn’t been that US Steel for more than half a century....
...But workers don’t have an official say in the matter and other objections look thin at the moment....
...Workers United countersued. But last week, the company and Workers United said they had reached a “framework” to achieve a contract and resolve the lawsuits....
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