Nippon Steel boosts capital commitment to US Steel plants

Associated Press

HARRISBURG, Pa. (AP) — Nippon Steel Corp. is raising its capital commitment by more than $1 billion to spend on U.S. Steel’s plants amid entrenched political and labor opposition to the Japanese company’s acquisition of the American steelmaker. Nippon Steel’s $1.3 billion commitment Thursday to upgrade facilities in Pennsylvania and Indiana is on top of an earlier commitment to spend $1.4 billion. The announcement was dismissed by the United Steelworkers as “lip service.” The sale also has drawn opposition from Republican presidential nominee Donald Trump and President Joe Biden. Vice President Kamala Harris, the Democratic nominee, hasn’t spoken about the deal, but is endorsed by the Steelworkers.