USW digs in on opposition to USS-Nippon deal

“We do not believe that any of the mitigation provisions that the parties appear to have offered during the initial Committee on Foreign Investment in the United States (CFIUS) review nor other steps could address our concerns,” USW continued.

“The risks posed by Nippon to America’s steel industry, and, thus, national security, cannot be addressed by permitting Nippon to enter into any partnership with U.S. Steel or allowing any investment where Nippon may exercise any degree of influence over U.S. Steel’s decision-making,” the union said.

The USW’s letter accuses Nippon of unfair trade practices, contributing to global steel overcapacity, and of failing to commit to maintaining production at some US facilities. A copy of the letter can be found here.

Former President Joe Biden blocked the sale of the iconic Pittsburgh steelmaker on Jan. 3. Later, President Donald Trump on April 7 called for CFIUS to conduct a second review of the proposed transaction. The first review ended in a split decision.

Trump also has publicly opposed a sale, but has suggested the Japanese steelmaker could make some investment in U.S. Steel.