Details Lacking on Partnership Between Nippon Steel, US Steel, Union Says
The United Steelworkers said May 28 that it remains uncertain what the recently announced “planned partnership” between Japan-based Nippon Steel and U.S. Steel will entail.
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The labor union said it's unclear how the partnership will differ from the $14.9 billion acquisition of U.S. Steel that Nippon Steel proposed in December 2023. The union opposed the acquisition, saying it would harm domestic steelmaking (see 2505220065).
President Donald Trump announced the partnership on social media May 23, saying it would result in a $14 billion investment in the U.S. economy while keeping the American company headquartered in the U.S. (see 2505230075). Trump is expected to discuss the deal at a May 30 rally in Pittsburgh.