Nippon Steel, who has been working on acquiring the U.S. steel, has been on halt due to the opposition faced. However the Nippon steel executive remains confident that the deal will officially be closed by the end of the year, despite President Joe Biden’s opposition.
MSN news reported that if Biden stops the takeover even after the ongoing national security review, Nippon Steel vice chairman Takahiro Mori, commented that he sees a chance to salvage the purchase once- President elect Donald Trump takes the office.
This deal was opposed by Donald Trump, and he said that the deal would be blocked if he returned to the White House. Other oppositions came from the United Steelworkers union as well.
But citing news reports describing Trump’s Nov. $ campaign rally in Pittsburg, Mori said trump had addressed the opinions of the steelworkers about the takeover.
“Since then, I think Donald Trump doesn’t mention any negative comment on this deal. So combined with the idea that this is aligned with his policy, I think he start understanding the real value of this transaction,” Mori said in an interview in Washington. “He actually listened to the people, the employees. so `i think he might change his mind.” He added.
The deal is also expected to supported the Goals of attracting job- creating investments that Trump had, According to Mori.
As per reports, Biden has shown no signs of changing his mind about the acquisition, that he publicly opposed in March, where he opinionated that, U.S. Steel has been an iconic American steel company for more than a century, and it is vital for it to remain an American steel company that is domestically owned and operated.