Nippon Steel seeks support for U.S. Steel acquisition

According to Reuters, Japan's Nippon Steel is gaining backing for its proposal to acquire U.S. Steel in key regions of the United States where steel mills are located, as stated by Nippon Steel's President, Tadashi Imai, on Wednesday (Dec. 25).

On Monday (Dec. 23), a U.S. foreign investment committee passed the decision regarding the US$15 billion deal to President Joe Biden, who has 15 days to make a determination. Both Biden and his potential successor, Donald Trump, have voiced opposition to the acquisition, raising concerns about its implications for national interests.

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