Nippon Steel Commits to American Leadership for U.S. Steel

Nippon Steel Corp. has announced that if its $15 billion acquisition of U.S. Steel goes through, the majority of U.S. Steel's board members and core senior management will be American citizens. This statement comes in response to concerns from President Joe Biden and Vice President Kamala Harris about the sale. The Japanese company also plans to appoint three independent directors and keep U.S. Steel's headquarters in Pittsburgh.

Nippon Steel argues that the acquisition will enhance American national security and strengthen the industrial base against Chinese state-supported competitors. The company has committed to prioritizing production at U.S. Steel to meet domestic demand and ensure there is no interference with trade decisions. This move aims to address the opposition from U.S. lawmakers and assure them that U.S. Steel will remain an American-operated firm.