Japan's Nippon Steel sets sights on a growing overseas market in its bid to acquire US Steel

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Nippon Steel officials didn’t disclose details of the fine technology they said the planned acquisition would offer U.S. Steel. In September, an arbitration board jointly chosen by U.S. Steel and United Steelworkers decided the proposed acquisition could proceed. “While Japan is a political ally, it is also an economic competitor, one that has proven time and again that it is willing to promote its steel industry at our expense,” the union said.

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Trump to Block Nippon Steel's $14 Billion U.S. Steel AcquisitionPresident-elect Trump announced his intention to use tax incentives to prevent Nippon Steel's acquisition of U.S. Steel, a deal valued at $14 billion, citing concerns over foreign ownership. He plans to act swiftly as president to block the transaction, which faces opposition from President Biden and a powerful U.S. labor union.
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