Nippon Steel President Supports US Steel Takeover Plan in Steel Areas

Photo : AP

Nippon Steel from Japan wants to buy U.S. Steel, and many people in the areas where U.S. Steel mills are located support this deal. Tadashi Imai, the president of Nippon Steel, told reporters on Wednesday that local communities back the plan. The U.S. foreign investment committee has passed the decision about the $15 billion deal to President Joe Biden. He has 15 days to decide if the deal should go ahead.

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Both President Biden and former President Donald Trump have shown that they don’t like the deal. But Imai said Nippon Steel has promised to take care of concerns about national security. He also said there is "progress in understanding." "The people in areas where the steel mills are located really support this deal," Imai said. He hopes President Biden will see how good the deal could be for the U.S. economy.

Nippon Steel and U.S. Steel want to finish the deal by the end of 2024, but the plan is facing opposition from the United Steelworkers (USW) union. On Wednesday, Nippon Steel sent a letter to President Biden, dated December 23. The letter, signed by 24 officials from areas with U.S. Steel mills, asked Biden to approve the deal. The letter said, "We ask you to listen to the voices of the steelworkers and others whose jobs depend on U.S. Steel."

The USW is worried that Nippon Steel does not care about the future of U.S. Steel’s plants or operations. They want Biden to keep U.S. Steel owned and run by Americans. To gain support for the deal, Nippon Steel promised not to use the deal to bring steel from other countries. They also promised to protect jobs and invest in U.S. factories that will help the company grow.

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