Trump and Biden Oppose US Steel and Nippon Steel Merger; Harris Silent

Vice President Kamala Harris has not publicly expressed her stance on the proposed $14.9 billion merger between U.S. Steel and Nippon Steel, despite the deal receiving significant bipartisan scrutiny. Shareholders have overwhelmingly supported the merger, but it is currently under review by the Committee on Foreign Investment in the U.S. Critics, including unionized workers and politicians from both parties, have raised concerns about the implications of the acquisition. Democratic figure Josh Shapiro, a potential running mate for Harris, voiced his discontent with the merger, emphasizing the dissatisfaction among U.S. steelworkers. Former President Donald Trump, who is now a key rival to Harris in the presidential race, has also opposed the deal, stating that he would prevent Japan from acquiring U.S. Steel. His comments reflect a broader apprehension regarding foreign ownership of American industries. Nippon Steel, a Japanese company, has sought to address these concerns by committing to uphold U.S. Steel's collective bargaining agreements and ensuring no layoffs or plant closures as a result of the merger. The company has also pledged to maintain U.S. Steel's brand and headquarters, asserting that the merger would benefit employees, shareholders, and communities alike. Despite the overwhelming shareholder approval, the merger's anticipated closing date has been postponed from September to December due to an ongoing Justice Department antitrust investigation. Nippon Steel remains optimistic about the deal's progression, emphasizing its commitment to the transaction.