Benzinga
  • 3 months ago
U.S. Steel shares dropped over 17% as reports surfaced that President Joe Biden plans to block the company's sale to Japan's Nippon Steel. Vice President Kamala Harris and former President Donald Trump have voiced their opposition to the deal. U.S. Steel CEO David Burritt warned of potential plant closures and relocation of the Pittsburgh headquarters if the deal is stopped. Burritt emphasized the importance of the deal for competitiveness and jobs.  Nippon Steel asserts the acquisition would strengthen the U.S. steel industry and bolster national security.

Category

🗞
News
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02U.S. steel shares dropped over 17 percent as reports surfaced that President Joe Biden
00:07plans to block the company's sale to Japan's Nippon Steel.
00:10Vice President Kamala Harris and former President Donald Trump have voiced their opposition
00:14to the deal.
00:15U.S. Steel CEO David Burrett warned of potential plant closures and relocation of the Pittsburgh
00:20headquarters if the deal is stopped.
00:22Burrett emphasized the importance of the deal for competitiveness and jobs.
00:26Nippon Steel asserts the acquisition would strengthen the U.S. steel industry and bolster
00:30national security.
00:31For all things money, visit Benzinga.com.

Recommended

0:37
I
Up next
Nippon Steel Defends U.S. Steel Buy as Biden, Harris, Trump Oppose Acquisition
Benzinga
0:39
Trump Vows To Block Nippon Steel’s U.S. Steel Purchase
Benzinga
0:33
Harris Opposes U.S. Steel Sale to Japan's Nippon Steel, Backs American Ownership
Benzinga
0:38
Nippon Steel Assures No Layoffs or Plant Closures in $14.9 Billion U.S. Steel Acquisition
Benzinga
0:44
Trump's Ex-Secretary Of State Mike Pompeo Backs Nippon Steel's $14.9B Acquisition Of US Steel Citing National Security Concerns
Benzinga
0:36
Biden Likely to Block U.S. Steel-Nippon Deal
Cheddar News
0:42
Biden Administration Reportedly Warns Nippon Steel's $14.9B Acquisition Of US Steel Poses National Security Risks
Benzinga
0:42
Japanese Firms Lean Towards Kamala Harris Over Trump, Fearing Impacts of Trade War With China
Benzinga
0:34
U.S. National Security Advisor Jake Sullivan Meets Xi Jinping, Raising Concerns on Economic Security Ahead of Elections
Benzinga
0:38
Trump Says He Will Make US Steel 'Great Again' Through Tariffs, Cautions Nippon Steel: 'Buyer Beware!'
Benzinga
1:57
Workers and union leaders meet with cabinet ministers over the future of Whyalla Steelworks
ABC NEWS (Australia)
12:49
Business Tit-Bits: USA-India And The IPEF
HW News English
7:16
TALKING EDGE: Slimming down Malaysia’s steel sector
The Edge TV
0:36
Anglo American to Spin Off De Beers Diamond Business in Major Restructuring Move as It Faces Takeover Pressure from BHP Group
Benzinga
0:48
Analyst: Here's What Will Happen With Iran If Joe Biden Becomes President
Wochit
0:42
Brazilians protest against Trump's import surcharge on steel
AFP English
3:26
Whyalla steelworks at crossroads as billionaire owner Sanjeev Gupta's green steel plan hinges on potential world firsts
ABC NEWS (Australia)
2:02
Washington hints possible steel duties delay for S. Korea in line with KORUS re-negotiation
Arirang News
0:30
Inside President Biden's Historic Decision to Drop Out of the Presidential Race and Throw His Support Behind VP Kamala Harris.
Benzinga
2:58
Whyalla steelworks owner Sanjeev Gupta promises no more job cuts with blast furnace to be operational in 'days or weeks'
ABC NEWS (Australia)
0:40
U.S. Port Strike Looms as ILA Plans First Coast-Wide Strike Since 1977
Benzinga
0:33
India's Annual iPhone Output Could Be Worth Up To $30B If Trump Tariffs Come Into Play: Report
Benzinga
2:50
Editor's Take | Tata Steel to set up India’s first steel scrap recycling unit
Moneycontrol
0:39
Kamala Harris Sees Major Boost After Biden's Exit as Major Donors Rally Behind VP Following Biden's Endorsement
Benzinga
0:32
Obama Views Harris as 'Incompetent' and 'Cannot Navigate the Landmines Ahead of Her,' According to Source Close to Biden Family
Benzinga