Nippon Steel's plan to acquire American steel may be hindered by the American Steel Union: Biden opposes Nippon Steel's acquisition of American steel. Nippon Steel announced in December last year that it plans to acquire American steel companies with over 120 years of history. On the 2nd local time, the United Steelworkers, which opposes the acquisition plan, issued a statement stating that their opposition to the acquisition has gained the support of US President Biden. Since the announcement of the plan, the stock price of Nippon Steel has risen by about 10%.