President Trump said on Friday that the Biden administration was planning to make a major investment in US Steel after a Japanese company’s $ 14 billion take over bidding last month, which was a threat to national security.
Such an investment, if it moves forward, can be a progress made for a transaction that is involved in US political opposition.
Former President Joseph R. Biden Jr. and Mr Trump agreed that US Steel should do US ownership and work. Mr Biden’s decision to withhold the deal last month left the fate of US Steel in Lumbo, the company said it would need to close the mills and leave workers.
This rejection also clouded the relations between the United States and Japan, which is traditionally close allies.
“Psychologically, this notion was not good, Mr Trump said at a news conference on Friday,” Mr Trump said about Napoon Steel’s plan to buy American Steel.
The US Steel is based in the Pennsylvania, an important electoral field, and the United Steel Workers Union strongly opposed the deal. The union reiterated these concerns on Friday.
“Our Union has no contact with any company or administration regarding Napoon investment reports in US Steel,” said David McCall, president of United Steel Workers International. “However, our concerns about Nippon’s continued interest in American steel remain.”
He added: “While we look forward to details of the proposed investment, we encourage President Trump to continue the long -term future protection of the domestic steel industry rather than US alternatives.”
Mr Trump said on Friday that he was opposed to being a Nipan company, but an investment was “very interesting”. He spoke during a news conference with Japanese Prime Minister Shigro in the White House, where the two leaders discussed trade, taxes and investment in the United States.
Mr Trump did not explain the details of this investment, including how much Nippon can put in US steel and how such arrangements will be created. He said he would “mediate and mediate the terms”.
Mr. Esiba also spoke hopefully about the concept of an investment.
“Japanese technology will be provided, and better quality products will be manufactured in the United States,” he said.
A Nippon spokesman refused to comment on it, and a US Steel spokesman did not immediately return the request to comment.
After withdrawing the deal, Mr Biden filed a lawsuit, argued that the process of review, which was done by a foreign investment committee in the United States, had damaged politics. He claimed that the US steel workers and the steel industry were damaged as the transaction was blocked.
Lauren Harsh Reporting was contributed.
