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Vice President Kamala Harris is expected to say that US Steel (NYSE:X) should remain domestically owned and operated during a visit to Pittsburgh on Monday, a potential issue for Nippon Steel’s (OTCPK:NISTF) planned $14 billion deal.
Harris will make the comments at a Labor Day union event in Pittsburgh, according to a Bloomberg report on Monday, which cited an unidentified official familiar with the plans. Pittsburgh is the headquarters of US Steel (X) and United Steelworkers union, which has loudly voiced its opposition to the deal.
The comments appear to come in contrast to her running mate, Minnesota Governor Tim Walz, who reportedly in June told a top Nippon Steel (OTCPK:NISTF) official that he supported the transaction. The comments came before Walz became the running mate of Harris.
Harris is the not on the presidential candidate to oppose the mega steel deal. Former President Donald Trump last month reiterated that he would block the deal if he gets the top job in the U.S.
“I will stop Japan from buying United States Steel,” Trump said at a campaign rally in Pennsylvania last month. “They shouldn’t be allowed to buy it. We have to make it work. We have to make it work. You don’t want to sell US Steel.”
President Joe Biden has for months said he’s against the $14 billion acquisition of U.S. Steel (X), though he hasn’t outright called for the transaction to be blocked.