Union tells Bessent risks of Nippon Steel deal are too great

The United Steelworkers warn that selling U.S. Steel to Nippon Steel could threaten national security and disrupt the American steel industry due to Nippon's potential influence over U.S. Steel decisions. The union calls Nippon a "serial unfair trader" and accuses it of exacerbating global steel market imbalances, echoing Trump’s protectionist trade policies. Despite Trump’s shifting positions on the deal during Biden’s presidency, his recent reconsideration has sparked optimism among investors, though he has repeatedly denied wanting a majority stake in U.S. Steel.