Posts tagged Committee on Foreign Investment
Opinion: Mitch McConnell: Nippon Steel Isn’t the Enemy
January 10, 2025 // In Georgetown, Ky., hundreds of skilled workers build automotive parts at a facility owned by Nippon Steel. About 5 miles away, another Japanese firm, Toyota, employs nearly 10,000 people full-time at the company’s largest vehicle-manufacturing plant in the world. Toyota recently announced more than $2 billion in new investments to expand and modernize its facilities there. Japan likely wonders why the Biden administration considers a major investment in American jobs and manufacturing a national-security risk but not its purchase of cutting-edge American military technologies.
Sale of U.S. Steel still in limbo, union accuses proposed buyer of ‘bribery’
December 13, 2024 // USW is urging President Biden to block the sale before the end of his term. On Tuesday, union leadership sent a letter to its members saying Nippon was resorting to bribery to get the deal across the finish line. Nippon announced it would give $5,000 to employees other than senior leadership if the deal is finalized.
US Steel Deal ‘Doomed,’ Says Union ‘Steadfast’ in Opposition
September 13, 2024 // United Steelworkers union says it will not be bullied into accepting Nippon Steel Corp.’s last-ditch efforts to win over workers for its takeover of United States Steel Corp., calling the $14.1 billion acquisition a “doomed deal” and pledging to fight any foreign ownership of the company.