Investing.com -- The United Steelworkers union has called on U.S. President Donald Trump to reject Nippon Steel’s proposed takeover of U.S. Steel. Despite Nippon Steel’s commitment to invest $14 billion in the iconic American company, the union remains unconvinced, arguing that the Japanese steel giant’s intentions are to undermine the domestic industry.
The union’s statement came a day after a national security panel submitted a new recommendation on the deal to President Trump. The union voiced its concerns, stating that Nippon Steel’s promises of proposed investments are merely a smokescreen for its real intention of undercutting the U.S. steel industry from within.
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