The United Steelworkers (USW) labor union has intensified its opposition to the takeover bid of U.S. Steel Corp by Nippon Steel Corp, while Nippon Steel is working to defend its position by emphasizing what it deems as the "truth" regarding the proposed acquisition. Both sides are engaged in a fierce battle as they await a decision from the Committee on Foreign Investment in the United States (CFIUS) that is expected to be announced by late December.
The CFIUS is currently reviewing the potential national security implications of Nippon Steel's acquisition of U.S. Steel and has extended the deadline for a decision to late December to ensure that the process is not influenced by the U.S. presidential election. Nippon Steel's vice chairman, Takahiro Mori, expressed confidence that the company would receive approval before Donald Trump assumes office in January, despite Trump's previous opposition to the acquisition during his presidential campaign.
In response to the allegations raised by USW president, David McCall, that a Nippon Steel takeover would endanger U.S. national security by transferring half-finished products from Japan to U.S. Steel, Nippon Steel has refuted these claims and reiterated its commitment to protecting U.S. Steel jobs, benefits, and pensions. The company has also reached out to USW members through a letter under Mori's name, assuring them that the accusations are unfounded and pledging to contribute positively to U.S. national security.