12/19/2023

United Steelworkers Union Oppose Nippon Deal for US Steel

Ohio senators weigh in to criticize the deal

The United Steelworkers is urging US regulators to scrutinize Nippon Steel's $14.1 billion takeover of United States Steel Corp. as it rebukes the iconic American company for agreeing to sell to the Japanese producer.

The influential union representing a large contingent of US Steel employees is pressing for regulators to review the deal to decide if it benefits workers and serves US national security interests, according to a statement by USW President David McCall. U.S. politicians also started weighing in later Monday on the deal, citing concerns about what the deal means for union workers.

Nippon Steel Executive Vice President Takahiro Mori said in an interview he’s confident the deal will clear regulators, pointing to Japan's strong relationship with the U.S. The USW has said repeatedly for months that it would only support a bid by US steelmaker Cleveland-Cliffs Inc., which made a $7.25 billion offer in August to buy its Pittsburgh-based competitor.

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