USW Rail Against Nippon-U.S. Steel Acquisition Deal

However, workers belonging to the United Steelworkers union raised concerns over the deal.

SEATTLE (Scrap Monster): The $14.9 billion sale of Pittsburgh-based United States Steel Corporation (U.S. Steel) to Japanese steelmaker Nippon Steel was approved by U.S. President Donald Trump last week. Nonetheless, United Steelworkers union employees voiced their disapproval of the agreement.

Trump said when approving the takeover agreement that the alliance will retain the company's headquarters in Pittsburgh, Pennsylvania, while adding about $14 billion to the national economy and creating about 70,000 jobs.

The union, which speaks for thousands of steel workers, expressed resistance to the agreement, claiming that it will negatively affect workers. The Indiana union representatives stated in a statement that the merger proposal would result in a significant decrease in the nation's steel employment. It might also lead to a decrease in the nation's capacity to produce steel domestically.

The Japanese steel company has allegedly been dumping steel in American markets for decades, according to USW International President David McCall. He pointed out that this has already lost Americans thousands of well-paying jobs.

Meanwhile, U.S. Steel officials said they hoped the company would flourish as a result of their investment and relationship with Nippon Steel.

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