In a recent speech, Vice President Kamala Harris stated her opposition to Nippon Steel's planned $14.9 billion acquisition of U.S. Steel, emphasizing the importance of keeping the iconic Pittsburgh steelmaker under American ownership and operation. This stance could potentially add pressure on the Committee on Foreign Investment in the United States (CFIUS) to recommend blocking the deal on grounds of national security.

Nippon Steel, a Japan-based company, has secured all necessary regulatory approvals outside of the United States for the acquisition. Additionally, last week, the company pledged an additional $1.3 billion investment into U.S. Steel's two mills. However, Harris's assertion that the steelmaker should remain in American hands aligns with the concerns of Pennsylvania steelworkers, highlighting a significant cause for both of the top presidential contenders.

While the alignment with steelworkers' interests may strengthen Harris's connection with voters, there is potential for unintended consequences if the deal were to be halted. The acquisition could have a significant impact on the domestic steel industry and the broader economy.

In her Labor Day speech, Harris, along with her running mate, Minnesota Governor Tim Walz, acknowledged the uphill battle they face against former President Trump in critical swing states Michigan and Wisconsin. Despite leading Trump in the polls following the Democratic convention, Harris's campaign continues to emphasize the tight race for the presidency and the need to remain vigilant despite the growing excitement and financial support from the party faithful.

The issue of foreign takeovers and its implications for national security has become a pressing concern for the CFIUS. With Harris voicing her opposition to Nippon Steel's acquisition of U.S. Steel, the committee now faces increased pressure to thoroughly review and assess the potential risks involved.

As the race for the presidency intensifies, both candidates strive to align with the interests of American workers and industries. The outcome of this particular deal could have far-reaching consequences for the steel industry and the overall economic landscape, making it a crucial issue for both the candidates and the country.