Newman: The political gamble on the Nippon-US Steel saga

Published On Sep 6, 2024, 6:25 PM

Steelworkers are actively engaging in political lobbying to influence the outcome of the Nippon Steel and US Steel deal. Their efforts are focused on either blocking the acquisition or pushing for changes that would benefit workers and protect jobs within the industry. The steelworkers view this deal as critical given its potential impact on employment and the direction of the steel market, especially amid concerns about its effects on domestic steel production and competition.

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Stock Forecasts

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If the lobby efforts by the steelworkers succeed and the deal is blocked, it could lead to a positive reaction in US Steel shares as it may preserve jobs and stabilize domestic steel prices. Conversely, if the deal goes through despite opposition, it could negatively affect US Steel's share price due to potential layoffs and restructuring.

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