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harris opposes u.s. steel takeover as japan pledges more investment

2024-09-03

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cailianshe news, september 3 (editor: shi zhengcheng)just after nippon steel corporation, japan's largest steel company, pledged last week to increase its investment in the u.s. steel industry, u.s. presidential candidate and current vice president harris expressed her opposition for the first time.

according to harris campaign officials, during a campaign visit to the old "steel city" of pittsburgh on monday,harris will make it clear that she "always supports the position of american steelworkers" and publicly emphasize that u.s. steel companies should be owned and operated by americans.this is also the first time harris has intervened in this trans-pacific acquisition dispute.

what happened?

pittsburgh-based u.s. steel announced in december last year that it had accepted nippon steel's cash acquisition offer for a total price of nearly $14.9 billion (including debt).

asthe company was founded by financial and industrial tycoon jp morgan in 1901, u.s. steel has also acquiredcarnegie steel company, national steel, and federal steel, once became the world's largest steel producer and largest company.

(stock certificate issued by u.s. steel in its early years)