Kamala Harris, the current Vice President of the United States and Democratic candidate in the November presidential election, has positioned herself against the purchase of Steel in the United States (US Steel) by the Japanese company Nippon Steel.
According to sources familiar with the matter, Harris will make the remarks in Pittsburgh, Pennsylvania, at an event with unions on Labor Day, a national holiday that has special significance because Pennsylvania is a key state in the election, as it is the headquarters of US Steel. In that sense, the unionMetalworkers Union had already expressed your reservations regarding the operation.
First Statement on US Steel
It would be the first time the vice president has taken a personal stance on the deal, though the Biden administration was already wary of the purchase. The former president Donald Trump also requested that the acquisition be blocked.
Japanese steel It indicated in December 2023 its intention to buy its American rival, which valued the company at around $14.1 billion (€12.738 million) after assuming its debt. The total amount would be $14.9 billion (€13.461 million). Under the current terms of the agreement, American Steel would retain its name and headquarters in Pittsburgh.
Separately, Nippon Steel also pledged last week to invest an additional $1.3 billion (1.174 billion euros) to renovate two obsolete plants in Pennsylvania and Indiana.
