Nippon Steel emphasises its 'deep roots' in the US as it pursues U.S. Steel deal

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Nippon Steel emphasises its 'deep roots' in the US as it pursues U.S. Steel deal
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Barley Risotto and Kimchi: A Culinary Crossroads| SaltWire #food #cookingshorts #kimchiTOKYO - Nippon Steel intends to pursue its proposed acquisition of U.S. Steel and wants its"deep roots" in the United States to be recognised, its new president said - remarks that come after U.S. President Joe Biden expressed opposition to the deal.The Japanese firm has agreed to buy U.S. Steel for roughly $15 billion but the deal faces an uphill battle to approval in a U.S. election year.

"I am convinced that we're the most useful partner to help U.S. Steel grow in the United States," he added. The proposed deal has drawn strong criticism from some lawmakers and the United Steelworkers labor union which is worried about potential job losses. Imai said he was hopeful that Nippon Steel would come to be seen as a firm with deep roots in the U.S., noting that it has had a presence there since the 1980s and has 4,000 employees in the country, some of whom are also members of the USW.

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