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[public information shows that japan's largest steel company, nippon steel, announced in december last year that it plans to spend about $14.9 billion to acquire u.s. steel.]

although nippon steel has just announced additional investment, its acquisition prospects for us steel do not seem optimistic.

on september 2, local time, while attending a campaign event in the key swing state of pennsylvania with us president biden, us vice president and democratic presidential candidate harris said that us steel is "a historic american company, and keeping us steel strong is vital to our country." "us steel should continue to be owned and operated by americans, and i will always support american steel workers."

chen yan, director of the japan enterprise (china) research institute, who has conducted in-depth research on the development of the japanese steel industry, is not optimistic about the prospects of this acquisition. he told the first financial reporter that nippon steel is not the first japanese steel company interested in the u.s. market. as early as the 1980s and 1990s, companies such as nippon steel, sumitomo metal, and nippon steel pipe all invested in the u.s. market one after another, but unfortunately, there has not been a successful case so far. "the current (u.s.) election has increased the complexity of nippon steel's acquisition plan."

election adds complexity to takeovers

harris' latest statement casts a shadow on nippon steel's acquisition of u.s. steel. public information shows that nippon steel, japan's largest steel company, announced in december last year that it plans to spend about $14.9 billion (55 dollars per share) to acquire u.s. steel. however, since then, opposition from the united states has been heard. before harris, biden, trump and the united steelworkers union have expressed their opposition.