New details have emerged in the potential sale of U.S. Steel to Japanese-based Nippon Steel.
In a statement from Nippon executives, they said that there would be no layoffs, the headquarters of U.S. Steel would remain in Pittsburgh, and they would be committing another $1.4 billion in investments.
The $14 billion sale has been met with skepticism by some lawmakers, including President Joe Biden who said that “it is vital for [U.S. Steel] to remain an American steel company that is domestically owned and operated.”
