Nippon Steel's planned acquisition of United States Steel may be approved by the U.S. government if current U.S. President Joe Biden wins a second term in the presidential election in November, a former senior U.S. trade official has said.
If Biden is reelected, there is a good chance that the U.S. government will approve the planned buyout on condition that Nippon Steel wins support from the United Steelworkers (USW) labor union, Glen Fukushima, former deputy assistant to the U.S. Trade Representative for Japan and China, said in a recent interview.
If former U.S. President Donald Trump returns to power, the possibility of Nippon Steel realizing its buyout of U.S. Steel would be lower, Fukushima, a third-generation Japanese American, said in Japanese.