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Search resuls for: "Nippon Steel of Japan"


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President Joe Biden will host Japanese Prime Minister Fumio Kishida and Philippines President Ferdinand Marcos Jr. for a White House summit next month amid growing concerns about North Korea's nuclear program, provocative Chinese action in the South China Sea and differences over a Japanese company's plan to buy an iconic American steel company. Eugene Hoshiko | AFP | Getty ImagesPresident Joe Biden will host Japanese Prime Minister Fumio Kishida and Philippines President Ferdinand Marcos Jr. for a White House summit next month amid growing concerns about North Korea's nuclear program, provocative Chinese action in the South China Sea and differences over a Japanese company's plan to buy an iconic American steel company. The announcement came as North Korea's state media reported that North Korean leader Kim Jong Un supervised a live-fire drill of nuclear-capable "super-large" multiple rocket launchers designed to target South Korea's capital. Biden argued in announcing his opposition that the U.S. needs to "maintain strong American steel companies powered by American steelworkers." Meanwhile, long-running Philippines-Chinese tensions have come back into focus this month after Chinese and Philippine coast guard vessels collided in the disputed South China Sea.
Persons: Joe Biden, Fumio Kishida, Ferdinand Marcos Jr, Eugene Hoshiko, Karine Jean, Pierre, Kim Jong Un, Biden, Thomas Shoal, Thomas Organizations: AFP, Getty, White, Steel, Nippon Steel of, American steelworkers, " Nippon Steel, BRP, BRP Sierra Madre Locations: Philippines, South, American, Japan, North, Korea, U.S, Pittsburgh, Nippon Steel of Japan, Philippine, China, BRP Sierra, Thomas Shoal, Sierra
WASHINGTON (AP) — President Joe Biden is coming out in opposition to the planned sale of U.S. Steel to Nippon Steel of Japan, saying in a statement to be released Thursday that the U.S. needs to "maintain strong American steel companies powered by American steel workers.”In a statement obtained in advance by The Associated Press, Biden adds: “U.S. Steel has been an iconic American steel company for more than a century, and it is vital for it to remain an American steel company that is domestically owned and operated." Thursday's announcement, coming as Biden is campaigning in the Midwest, could have ripples in his race against the GOP presumptive nominee, Donald Trump. Nippon Steel announced in December that it planned to buy the Pittsburgh-based steel producer for $14.1 billion in cash, raising concerns about what the transaction could mean for unionized workers, supply chains and U.S. national security. More than half the steel produced globally comes from China, according to the World Steel Association.
Persons: Joe Biden, Biden, Donald Trump, Trump, Fumio Kishida, Jill Colvin Organizations: WASHINGTON, Steel, Nippon Steel of, Associated Press, GOP, Democratic, AFL, Nippon Steel, Pittsburgh, Foreign Investment, Teamsters, U.S . Steel, Japan, Trump, Biden, United Steelworkers, Nippon, White, World Steel Association . India Locations: U.S, Nippon Steel of Japan, American, Midwest, United States, Saginaw , Michigan, Pennsylvania, Japan, Asia, China
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