(Bloomberg) -- Vice President Kamala Harris joined President Joe Biden in declaring that United States Steel Corp. should remain domestically owned and...
-- Vice President Kamala Harris joined President Joe Biden in declaring that United States Steel Corp. should remain domestically owned and operated, the latest headwind to the proposed sale of the company to Japan-based Nippon Steel Corp.Dense Cities With Low Emissions Suffer Most From Air Pollution, Study Finds
It’s not clear whether a decision on the takeover will land on Biden’s desk or that of his successor — or even if it will proceed at all. Still, Harris’ comments add to the political maelstrom around the $14.1 billion deal — rooted in Pennsylvania, one of the election’s foremost battlegrounds. The state’s two senators have been among the most vocal in opposing the sale, as has Senator JD Vance of neighboring Ohio, who is Trump’s running-mate.
US Steel shares surged when Nippon’s bid was announced in December, before giving up much of those gains when Trump and Biden voiced opposition. The stock then outperformed peers as Biden withdrew from the electoral race, on bets a Harris-led ticket may put up fewer obstacles for getting the deal done. Trading was closed Monday for a US public holiday.
Harris visited Michigan earlier on Monday for a Labor Day event, before traveling to Pittsburgh for the rally with Biden — their first joint campaign event since she became the nominee. The Pittsburgh gathering included members of the United Steelworkers and other major unions, according to a Harris campaign official.
Nippon Steel Joe Biden United Steelworkers United States Steel Corp. Bloomberg American Company Donald Trump American Steel Pittsburgh
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