The US Steel Workers' Union (USW), which opposes Nippon Steel's acquisition of major American steel manufacturer US Steel, says President Biden is backing the union's stance. We have released a statement.
Last December, Nippon Steel announced that both companies had agreed to acquire major American steel manufacturer US Steel, with the acquisition price expected to be approximately 2 trillion yen.
The US steel industry union, USW (United Steelworkers Union), had issued a statement criticizing the agreement and expressed its intention to oppose it, but on the 2nd, it issued a new statement.
In the statement, they reiterated their opposition to the takeover, saying, ``The agreement between Nippon Steel and US Steel puts the interests of our members and the country at risk.''
"Today, we received a personal assurance that President Biden has our backs. He has always been a friend of American workers and unions, and we know he cares about this issue. I am grateful,'' he said, indicating that President Biden supports the union's stance.
The Biden administration has indicated that the acquisition agreement will be carefully reviewed by the government's Committee on Foreign Investment, which investigates the impact on U.S. national security.
Former President Trump also stated, ``If it were me, I would immediately block it,'' making it clear that he would not approve of the takeover, and there is a lot of interest in the fate of the huge takeover plan.