Posted 4/9/2024, 9:00:04 PM
Biden, Trump Speak Out Against $14B Nippon-U.S. Steel Deal Over Labor Worries
- Japanese steel company Nippon Steel's $14B bid to acquire US Steel has faced backlash due to labor concerns and election-year politics
- The steelworkers union has opposed the deal over worries about jobs and benefits, swaying Biden and Trump to speak out against it
- The deal could strain US-Japan relations, coinciding with Biden's summit with Japan's PM this week
- Biden and Trump are jockeying for blue-collar votes in swing states like Pennsylvania ahead of the 2024 election
- The deal's fate remains uncertain - it could still go through after negotiations or litigation, be blocked, or end up split between buyers