By Admin 
Donald Trump: US President Donald Trump finally approved a $ 14.9 billion deal of US Steel and Japan’s Nippon Steel. Along with this, the questions arising in the minds of the United Steelworkers Union (USW) and national security came to an end.
Trump said this about national security
Trump has signed an executive order, stating that if the two companies signed an agreement with the Treasury Department to resolve the national security concerns with this deal, the alliance may move forward. Trump says that the concerns about national security about this deal can be resolved. For this, both companies will have to follow certain conditions.
Both companies thank Trump
The companies thanked Trump over this deal, saying in a statement, “We are ready to work on our commitments to reinforce American Steelmaking and Manufacturing.” The agreement also mentioned new investment of about $ 11 billion by 2028. With this approval of Trump, Nippon Steel will buy 100 percent stake in US Steel.
Why was this deal being opposed?
Explain that the United Steelworkers Union (USW), who represented US Steel employees, opposed the acquisition of US Steel by the Japanese company. He said that the deal would endanger American jobs and it is also a threat to national security as he believed that the supply chain of the American steel industry is very strong and it benefits America’s economy greatly. In such a situation, if the ownership of a foreign company is made on this, then the supply chain will be completely under their control. This will harm America.
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