Kamala Harris opposes U.S. Steel takeover by Japanese company

• It also gives some insight into how a President Harris would seek to govern, and bolsters her labor union bonafides.

State of play: Japan-based Nippon has received all regulatory approvals outside of the U.S., and last week pledged to invest another $1.3 billion into U.S. Steel's two mills.

• President Biden in March announced his opposition to the deal, with Harris largely mirroring his language.
• Donald Trump has said he'd stop the deal, if elected, except that it's scheduled to close prior to the inauguration.

The bottom line: Both top presidential contenders are now aligned with Pennsylvania steelworkers on a key cause, but there could be unintended consequences were this deal to be stopped.

• Japan is a strong U.S. ally, raising questions about any national security justification by CFIUS, and U.S. investment firms are in the midst of their own Japan buying binge that could hang in the balance.