Nippon Steel promises no cuts to U.S. Steel’s output for 10 years
Written by Black Hot Fire Network on January 1, 2025
Nippon Steel Corp. has promised it will not cut output capacity at United States Steel Corp.'s mills for 10 years, in its latest proposal to the administration of President Joe Biden aimed at winning approval to acquire the struggling producer, a media report said Tuesday.
The Washington Post said the Japanese steelmaker sent its proposal to the White House on Monday after a panel of U.S. federal agencies failed to reach consensus on whether to approve the $14.1 billion sale of U.S. Steel to Nippon Steel, leaving the final decision to Biden.
