Trump and Senator McCormick say the US government to have control over Nippon Steel-US-Stahl-Deal

Harrisburg, Pa. (AP)-Senator David McCormick said on Tuesday that an agreement that can invest in Japan, Nippon Steel, will guarantee an American CEO that approved the majority of the United States' board members and the US government.

The Pennsylvania senator spoke four days after the president on CNBC Donald Trump suggested that an agreement on an “partnership” to remedy Nippon Steel was read Almost 15 billion US dollars offer To buy the legendary American Steelmaker US Steel, which was blocked for national security reasons.

Follow His statement on FridayTrump said reporters on Sunday that US Steel “was checked by the United States, otherwise I would not complete the deal” and that it is an investment and it is part of ownership, but it is controlled by the USA. “

Mccormick Described the Veto of the US government as a “golden proportion” and suggested that the idea of ​​Nippon Steel was the idea.

Nippon Steel has not yet said whether it is willing to accept the concept described by Trump and McCormick instead of its offer for the purchase of the company.

When it wanted to win in the middle of a national security check for American civil servants, Nippon Steel gradually increased the amount of money that it has obliged to invest in US steel in addition to the purchase offer. This amount is now 14 billion US dollars, according to Trump, McCormick and Pennsylvania Senator Kim Ward, who estimated the deal with $ 28 billion.

This investment of 14 billion US dollars includes the construction of a new current arch stove – a more modern steel mill that melts scrap – said somewhere in the USA, said Ward's office.

It also steers 2.4 billion US dollars in US steel facilities in the Pittsburgh area, including the blast furnace from Edgar Thomson Works in the 19th century outside of Pittsburgh and the construction of a new research and development center at Carnegie Mellon University in Pittsburgh, said Beamte.

“You have always done everything you could, they offered everything to improve the investment for checking the Trump administration and the review of President Trump,” said the US representative Dan Meuser, who met with Trump last week to discuss the deal.

In order to solve national security concerns, McCormick said that the deal includes a “national security agreement” that Nippon Steel will sign in the US government.

This includes an American CEO, a board for the American majority and a golden share in which the US government approves a number of board members that enable the United States to ensure that the production levels are not reduced, said McCormick.

McCormick said Nippon Steel will have members of the board and the company will be part of their overall structure of the company “.

He also said Nippon Steel gets what they wanted, what is the access to the US market and the advantages of the long-standing protectionist US tariff These analysts say that they revive the house steel.

“I think you know what to get involved,” said McCormick. “You negotiated it. It was your suggestion and I think you saw it as a great strategic step for you and one for the United States.”

Many of the aspects described by McCormick and Trump were previously floated by Nippon Steel.

Holding us Steel's headquarters has always been part of Nippon Steel's offer to buy it. Nippon had undertaken to put us steel among a board of directors that consists of a majority of American citizens, with a management team consists of American citizens.

Nippon Steel had also undertaken not to carry out any layoffs or system closures due to the transaction in order to protect the interests of US steel on trade questions and not to import steel plates that would compete with the U.S. steel furnaces.

Nippon Steel published an approved explanation on Friday, in which the “partnership between Nippon Steel and Us Steel is a game changer”. However, the conditions of a deal was not described or not said whether it had agreed to the final conditions.

The US steel board and shareholders had approved Nippon Steel's offer, but it was rejected by the United Steelworkers Union and was blocked from former President Joe Biden on the way out of office. After Trump had become president, he suspended another National security check from the committee for foreign investments in the United States.

The United Steelworkers said on Tuesday that it could not speculate about a golden proportion or partnership. However, it is still concerned that US Steel is a critical manufacturer in a critical domestic industry and that Nippon Steel is a foreign company that is a long success story about the violation of the US trade laws.

The combination of Nippon Steel – the world's fourth largest steel producer – and the US steel – the 24th largest in the world – would create the world's largest steel producer in an industry that is dominated by China and Chinese company from 2023.

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Follow Marc Levy on X: https://x.com/timelywriter.