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To acquire united states steel has been caught in the cross hairs of an election year and in the crucial swing state of pennsylvania where us steel is based. Us presidentjoe biden has long pledged that the iconic american company, headquartered in pittsburgh, should remain domestically owned and run. Presidential nominees kamala harris and donald trump have also both committed to keep us steel american, though any move to block the deal could potentially be subject to litigation. Proponents of nippon steel s bid say the us shouldn t reject a bid from a company based in an allied country such as japan, especially one that could create an entity with the scale to compete with china. If the deal is successfully blocked, the fate of us steel is unclear. The company warned that it would imperil thousands ofjobs if the deal falls through. It may also close plants and even move its headquarters out of pittsburgh. Meanwhile, vice president kamala harris is proposing raising the capital gains t

Us steelPresidentjoe bidenNippon steel takeoverElection issueSpecial reportBustling textile sectorSteve laiNippon steel on national security groundsBusiness today5 billion15 billionThe companyNippon steelRitika gupta4 billion14 billion