Harris opposes US Steel’s acquisition by Japan’s Nippon

Vice President Kamala Harris said US Steel (USS) should stay American-owned and American-operated, opposing Japan’s Nippon Steel’s $15 billion bid to acquire the century-old steel maker.

At a recent Pittsburgh rally, her views sided with those of the White House, President Joe Biden, and Republican nominee Donald Trump.

It is the latest blow to Nippon’s efforts, which have garnered continuous opposition since its announcement in December.

The United Steelworkers union voiced their concern regarding the acquisition, saying the foreign takeover could risk national security, close plants, and initiate job cuts. The bid is also under antitrust and national security reviews by the Justice Department and the Committee on Foreign Investment.

Nippon is hopeful. The Japanese steel giant has pledged to pour billions into USS facilities and says it will withdraw from a joint venture in China to appease US regulators.