X - Biden's Advisors Signal Labor Focus In Nippon Steel's United States Steel Deal Amid Election-year Sensitivities Over US Jobs | Benzinga
President Joe Biden‘s economic advisors have reportedly emphasized a commitment to safeguarding union jobs and domestic manufacturing in the U.S. steel industry, suggesting that Nippon Steel Corporation (OTC:NPSCY) may need to enhance its support for organized labor in order to finalize the United States Steel Corporation (NYSE:X) acquisition.
The creation of the world’s second-largest steel company through a $14.1 billion deal faces review by the Committee on Foreign Investment in the United States (CFIUS), reported Bloomberg.
While not explicitly addressing Nippon Steel’s case, the statements were made on Friday, prompted by questions about it.