Trump to meet with the executive director of US Stoel, President FedEx at the White House
Executive director Royal Palm Company Daniel neari discusses whether President Biden is right to block Nippon to buy American steel on ‘Varney & Co.’
President Donald Trump He should meet on Thursday with the US CEO, because Vice President Nippon Steel gives a proposed offer to buy a combat manufacturer of Steel as a fulfillment of the president’s goals.
The US Director David Burritt will meet with Trump at the White House, the administration officials said, the Reuters report said.
Trump has previously expressed opposition to the agreement, which former President Joe Biden blocked before leaving his duty. In December, he said, “I am completely against the once big and powerful American steel who bought a foreign company, in this case Nippon Steel of Japan.”
Meeting comes while Nippon Steel told Thursday that his offer was for Buy us steel He aligns with Trump’s goal of the stronger on the eve of the President and Japanese Prime Minister’s meeting.
Is Nippon Steel’s offer to buy American steel threatens national security? Experts are harder
President Donald Trump should meet on Thursday with US director Steel’s white house. (Scott Olson / Getty Images / Getty Images)
Nippon Steel said in a statement that his plan to acquire American Steel for $ 14 billion “contributes to Trump’s goals to promote US investments, creating American jobs and strengthening American production Through new investment and advanced technology transfer. “
“We are convinced that our acquisition plan is the best for the American Steel,” said Vice President Nippon Steel Takahiro Mori to reporters on Thursday, adding that he hoped Trump’s meeting with Japanese Prime Minister Shiger Ishiba “to convey to Trump and open the way to the trip. “
Trump’s meeting with Ishiba is expected to happen on Friday. Mori said he visited the US last week but refused to say if he met with members Trump administration.
| Dice | Security | Last | Change | Change % |
|---|---|---|---|---|
| X | United States Steel Corp. | 39.27 | +1.35 |
+3.56% |
| Npscy | Nippon Steel Corp. | 7.25 | +0.13 |
+1.83% |
US Steel, Nippon Steel Sue Biden Administrator due to a blocked acquisition
Bidan He blocked Nippon’s acquisition in January before he went to duty after the contract examined the Committee for Foreign Investments in the United States (Cfius) for several months, who failed to achieve a consensus on national security issues that could be concluded by agreement.
Biden ultimately rejected the agreement, saying in a statement: “The strong steel industry in the country and operated in the country is an essential priority of national security and is critical for resistant supply chains.”
Nippon Steel has committed to investing $ 2.7 billion in US steel objects to modernize and make them more competitive. (Justin Merriman / Bloomberg via Getty Images / Getty Images)
Us Steel and Nippon Steel withdrew to this explanation and filed a lawsuit that challenged the decision to block the agreement, saying in a statement that the transaction “would improve rather than threaten, the United States of National Security, including revitalization of communities that rely on American Steel, Increasing the American steel supply chain and strengthening the American domestic steel industry against the threat of China. “
President Biden to block the sale of American steel on Nippon Steel
Nippon has committed to investing $ 2.7 billion in American Steel’s Steel works in Pennsylvania and Gary Works in Indiana as part of a modernization project aimed at being more competitive with international rivals. The company also said it would preserve the name, Mark and the seat of the American steel and refrain from discharging until 2026 if the contract continued.
Burritit said Wall Street Journal Last year that US Steel could not invest the investment of Nippon Steel, which is being offered if the job does not move forward.
“We wouldn’t do that if the job falls,” Burritit said. “I have no money.”
American Steel warned earlier that he might have to close mills in Pennsylvania and Indiani if he doesn’t continue the job. (Justin Merriman / Bloomberg via Getty Images / Getty Images)
He added that American Steel may look to transfer his production to objects in the south, while the Pennsylvania’s Monongahela Valley and Gary, Indiana, as well as moved their corporate seat from Pittsburgh.
American Steel earlier told Fox Business that the company has about 3,800 employees in Pennsylvania, including Mon Valley Works and The headquarters, plus its research center and other corporate functions. Gary Works has more than 4,300 employees, the company states.
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AND United United Steelworkers Union He opposes the transaction, with the USW International President David McCall said that Nippon “is a serial trade cheater who has been working on underpinning our domestic industry for decades, throwing his products on our market.”
McCall added that “from the recent financial effect of the US, Steel can easily remain a strong and resistant company” and has called on his Board of Directors “to take the necessary steps to allow him to further flourish and remain profitable.”
Trump is expected to meet with President FedEx on Thursday, founder Frederick W. Smith at the White House on Thursday, the report said.
| Dice | Security | Last | Change | Change % |
|---|---|---|---|---|
| FDX | FedEx Corp. | 258,82 | +6.38 |
+2.53% |
Reuters contributed to this report.
