The president is preparing to issue a statement of veiled opposition to Nippon Steel’s proposed acquisition before Prime Minister Fumio Kishida arrives in April.
of U.S. Steel before Japanese Prime Minister Fumio Kishida arrives in Washington for a planned state visit April 10, according to three people familiar with the matter.White House lawyers are drafting the expression of presidential concern even as the Committee on Foreign Investment in the United States reviews the proposed takeover.Nippon Steel
Administration officials have informed the Japanese government of the president’s plans, explaining the statement in terms of his need to retain political support in Pennsylvania in the November election, said one industry source, who described the matter on the condition of anonymity to comment on internal deliberations.
The steelworkers union has returned the affection. This month, USW President David McCall praised the president’s efforts to promote domestic manufacturing and infrastructure.“President Biden delivered win after win for working people during his first three years in office, and USW members look forward to working with him as he continues his fight to grow the middle class and an economy for all,” McCall said in a statement.
“Japan is a strategic ally and the largest foreign investor in the United States, directly employing nearly one million American workers. Facts I hope the Administration keeps in mind when preparing for next month’s state visit,” she said in an email.
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