US9129091081 - Common Stock
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The US Commerce Department has ratcheted up tariffs on Nippon Steel Corp. just as the Japanese steelmaker made an anti-import promise to gain support for its $14.1 billion takeover of United States Steel Corp.
On the final day of his election campaign, Donald Trump stood on stage in Pittsburgh flanked by steelworkers and promised to protect American jobs and manufacturing. Curiously absent from his speech was his often-repeated promise to kill the sale of United States Steel Corp. to Nippon Steel Corp.
Nippon Steel Corp.’s Vice President Takahiro Mori is set for a US visit that will include a meeting next week with workers representing the three major local unions that run United States Steel Corp.’s iconic plants in the Pittsburgh area.
A Trump victory could mean higher tariffs on foreign steel, with a key merger in limbo.