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A few Senators from the nation’s Rust Belt are sounding the alarm over the ties between the Chinese Communist Party and the Nippon Steel Corporation — the Japanese conglomerate looking to purchase the United States Steel Corporation.The deal is significant as U.S. Steel, based in Pittsburgh, Pennsylvania, played a critical role in the nation’s “Arsenal of Democracy” during World War II, which ultimately saw the Allied powers defeat the Axis, which included Imperial Japan.
Nippon is also looked to by Chinese peers as a critical source of strategic guidance for maturing the operations of what has grown into the world’s dominant steel industryThat relationship brings Nippon into close and frequent interaction with China’s steel industry.
While Biden has said he opposes the acquisition, Michael Stumo with the Coalition for a Prosperous America said, “It is critical that his statement of opposition result in action.”
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