Japan Railway's acquisition of American Steel kicks off again, Biden and Trump clash from afar
Japan Steel Vice President Hiroshi Mori said on March 18 that if the company's acquisition of U.S. Steel is concluded, Japan Steel will move its U.S. headquarters from Houston to Pittsburgh, where the latter's headquarters is located.
According to a document submitted by U.S. Steel to the U.S. Securities and Exchange Commission, Moritaka said that Japan Steel has maintained contact with the United Steelworkers and made a series of specific commitments in terms of employment security, investment, etc. Moritaka reiterated that Japan Steel will abide by all existing agreements between U.S. Steel and the United Steelworkers and will not lay off workers, close factories or shift more production overseas.
According to CCTV Finance's "World Finance" report, Japan Steel had previously proposed a plan to acquire U.S. steel companies. On the 14th, U.S. President Biden hinted against it.