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Navigating union resistance and China's steel production dominance, the Nippon Steel buyout faces heightened acquisition challenges amid US election dynamics.
Weeks ahead of an April US-Japan summit, President Joe Biden referred to the Nippon Steel buyout, saying he opposes a foreign company owning US Steel.
The combined forces of Japan and the US in producing high-grade steel can counter China's cheap products. Nippon Steel must dispel the American side's concerns.
The American resentment toward the US Steel buyout is outdated and hypocritical — it neglects the trust that Japan has consistently demonstrated since the war.
Nippon Steel envisions the two companies becoming the "best steelmaker with world-leading capabilities." Both can move forward by combining their strengths.
While there are still hurdles to be overcome, by combining its output with US Steel's, Nippon Steel would become the world's third-largest steelmaker.