USW Reiterates Opposition to Proposed U.S. Steel-Nippon Deal in Letter to Treasury Secretary
The United Steelworkers (USW) today sent a letter to U.S. Treasury Secretary Scott Bessent, citing the serious risks the proposed U.S. Steel-Nippon sale poses to U.S. national and economic security which no mitigation measures can address.
President Joe Biden blocked the sale January 3, but President Donald Trump on April 7 called for Committee on Foreign Investment in the United States (CFIUS) to conduct a second review of the proposed transaction. President Trump has also voiced clear opposition to the sale in multiple statements dating back to January 2024.
The USW’s letter highlights Nippon’s history of unfair trade practices, its role in contributing to global steel overcapacity, and its failure to commit to maintaining production at key U.S. facilities, including in Pennsylvania.
The letter also notes the Commerce Department’s recent percent preliminary determination on non-oriented electrical steel (NOES) Nippon dumped into the U.S. market, setting margins at 204.79 percent.
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