U.S. Steel executives say the sale of their company to Japan's Nippon Steel will save jobs, while opponents are pushing to keep the company American-owned. WPXI's Nicole Ford reports.
President-elect Donald Trump said Monday that he would block a Japanese company’s $15 billion bid to acquire U.S. Steel, a contentious deal that faces widespread political opposition. Nippon Steel, Japan’s largest steelmaker, announced the deal last December and has said it is determined to see it through despite concerns about the implications for employees, supply chains and U.S. national security. “I am totally against the once great and powerful U.S.
” Nippon Steel has argued that the acquisition would benefit both companies and their employees, as well as the United States and Japan, a key U.S. ally. The Japanese government has previously declined to comment on matters concerning the management of individual companies. The company says U.S. Steel would remain American-run, with Americans serving as three of the board’s independent directors as well as “core senior management members.” It says it would prioritize production at U.S.
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