Nippon Steel’s $1.3 billion capital commitment to US Steel sparks political, labor controversy

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Nippon Steel’s $1.3 billion capital commitment to US Steel sparks political, labor controversy - Business Mirror

Quick Summary:

Last week, former President Donald Trump, the Republican presidential nominee, reiterated his pledge to block the deal during a campaign appearance in York, Pennsylvania.

The Steelworkers say they are intent on “keeping US Steel US owned” and are protesting what they view as the transaction’s failure to incorporate its contractual agreements on labor, pensions and other matters after they weren’t consulted on the details.

The sale comes during a tide of renewed political support for rebuilding America’s manufacturing sector, a presidential campaign in which Pennsylvania is a prime battleground, and a long stretch of protectionist US tariffs that analysts say has helped reinvigorate domestic steel.