There is broad agreement that the transaction with NSC will support customers, employees and communities
“Attempts to politicize the objective Committee on Foreign Investment in the United States (CFIUS) review of NSC’s acquisition of U. S. Steel are both inappropriate and counterproductive…officials must be careful not to send a chilling signal to international companies that U.S. politics may put their job-creating investments in the U.S. at risk.”
“Given everything that the Nippon Steel executives have said about what they plan to do, honoring labor agreements, I don't think there's a national security concern at all. I’ve also made the argument that Japan should be on the CFIUS whitelist.”
“My career started with, and was molded by, the late Sen. John Heinz, the absolute leader in the U.S. Senate on trade issues critical to the steel industry. And you know what? I think the Nippon investment offer is a great deal for U. S. Steel, for Pennsylvania and specifically for the Pittsburgh region… It will be critical that the CFIUS review process be guided by the facts, not politics.”
“There is no remotely plausible national-security rationale for questioning the Nippon-U. S. Steel transaction… Japan is a staunch ally.”
[U. S. Steel] “shareholders consist of Americans of all stripes. The teachers, firemen, truck drivers, who have 401(k)s and pension plans invested in companies including U. S. Steel. [...] This is good for the steel workers. This is good for steel production. This is good for the United States. The fact of the matter is that Nippon Steel would be obligated to follow all of the labor laws that anyone else is obligated to, including the negotiations over new contracts, which is very heavily regulated by the federal government…I think the union workers ought to be glad that a larger parent company with greater resources is going to be there to increase the likelihood that they stay viable. I think it’s a big mistake for the unions to conclude somehow they’re worse off when it’s not at all clear that that’s the case.”
“Nippon Steel is a very high-tech steel company. If anything, they may have better technology than U. S. Steel. They’ve pledged to honor the labor contracts, which go through 2026, and they have pledged 0 carbon by 2050. They’re a very, very responsible company and it reminds me back some decades ago when I was at Rothschild. We represented the Rockefeller 34 trust when they sold Rock Center to the Japanese to Mitsui and everybody said, “Oh my God, the sky is falling. An American icon owned by the Japanese.” Well, you know what the consequences were? Nothing, no consequences, and I don’t think there will be any consequences of this.”
“Nippon Steel and U. S. Steel announce a historic $14.9 billion transaction. These two iconic companies are defining the future of the key steel industry and forging a strong bond as they face a more competitive environment. While the USA and Japan have been the number one investors in each's country for the past four years, today's announcement will deepen those bonds.”
“For the United States to say that a Japanese company investing in an American manufacturing firm constitutes a threat to American national security is strange and troubling.”
“I am unaware of any president preemptively signaling he may oppose an acquisition that is undergoing national security review, much less an acquisition by a company from a treaty partner that we are obligated to defend with U.S. troops.”
“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. The CFIUS process was designed by Congress to thoroughly review cross-border deals for their potential impact on national security and, importantly, to remain apolitical. Only once all of the facts are uncovered through this process can a determination be made. To stay globally competitive for foreign direct investment, which now employs nearly eight million American workers, the Administration should adhere to this standard.”
"This (the transaction) isn't about acquiring a prized U.S. asset. It's about investing in an American company, creating jobs in Pennsylvania, and training workers in cutting-edge technologies."
"This transformative merger will strengthen American jobs, U.S. steel competition, and lead to lower steel prices…Despite clearly presenting a financially worse outcome for stakeholders (on Cleveland-Cliffs), it would also lead to redundant geographic headquarters, which would diminish hiring competition, thus lowering wages for steel workers—the exact opposite union leaders want for their members. Nippon Steel, on the other hand, is committed to maintaining existing jobs post-acquisition and honoring all collective bargaining agreements already in place.... It is imperative that we prioritize sound economic reasoning over misguided political concerns to pave the way for a prosperous future in the steel industry."
“U.S. domestic politics is defining what should be up to two private companies to decide. The U. S. Steel/Nippon Steel debate is also driving a harmful wedge between otherwise solid partner nations.”
“Foreign investments—including by Japanese companies, which had invested $712 billion in the United States by end‐2022 and employ 963,000 Americans—have often benefited the U.S. companies being acquired and their surrounding communities. The investments can result in increased spending in R&D and capital equipment and internal changes in management or business practices—precisely what both Nippon Steel and U. S. Steel have told their shareholders about the current acquisition.”
“If you really care about workers, Nippon Steel’s bid is better. The firm has promised to honor the United Steelworkers collective-bargaining agreement and says it won’t move current U.S. production or jobs overseas. A more competitive U. S. Steel is less likely to have to lay off workers in the future… Barring Nippon Steel for political reasons sends a rotten message to friends—especially since it would be a boon to Chinese steel makers that compete with Nippon.”
"Of course, to make subs you need steel, which is why there are good reasons to maintain a domestic steel industry. But Japanese ownership of U.S. steel facilities is not a security risk. Not only is Japan a U.S. ally, it is the key U.S. ally against the key adversary, China. Nippon Steel has committed to maintaining production in the U.S., which is the relevant national security issue. Precisely because this is a sensitive security topic, the U.S. should be thrilled that it wants to buy the company.”
"This just says to me that election issues of the unions and American jobs is coming before a key ally in Japan. This is not China, this is not Russia, this is not Iran; this is Japan."
“The rest of us, including the unions in the industries downstream like the United Autoworkers, should pay closer attention. They must actively support the proposed Nippon-U. S. Steel deal because it’s in their best interest.”
By submitting your name and contact information through this website, you consent to United States Steel Corporation collecting, using, disclosing, and otherwise processing such information to update you about new content on this website, including via email or text message, and to better understand usage of this website.
We will process the personal information that you provide in the United States (where this website is hosted), which may provide a different level of privacy protection than your country. Our processing of your personal information will be supported by our third-party service providers, who are bound by contractual confidentiality obligations, and we will retain your personal information as long as necessary to satisfy the purposes of collecting it. Providing your personal information to us is voluntary.
If you wish to withdraw your consent or exercise any right you may have to access, correct, or delete your personal information, you may email privacy@uss.com. You may also contact your data protection authority with any concerns. California residents should view our California Privacy Policy for additional information.