Photo/Illutration A sign of Nippon Steel Corp. (Asahi Shimbun file photo)

To counter bipartisan opposition to its proposed acquisition of U.S. Steel, Nippon Steel Corp. pledged that U.S. citizens will form a majority of board members at the company if the deal goes through.

In its governance policy for U.S. Steel announced Sept. 4, Japan’s top steelmaker emphasized that U.S. Steel will be maintained as an “iconic American company.”

The acquisition is facing opposition from U.S. President Joe Biden, as well as Democratic and Republican presidential candidates Kamala Harris and Donald Trump.

Nippon Steel also said the U.S. Steel board will include three independent directors who are U.S. citizens and that U.S. Steel’s “core senior management members” will be U.S. citizens.

The company said it will prioritize U.S. domestic production over exports from Japan and other countries to meet demand in the U.S. market.

Nippon Steel and U.S. Steel, founded in 1901, have agreed on the acquisition, worth about $14 billion (2 trillion yen).

However, labor unions are staunchly opposed out of fear of job losses.

The deal developed into a political issue ahead of the U.S. presidential election.

Western media outlets reported Sept. 4 that Biden is preparing to block the takeover due to national security concerns.

Harris, the U.S. vice president, said Sept. 2 that U.S. Steel “should remain American-owned and American-operated,” echoing a statement Biden released in March.

Trump, a former U.S. president, has pledged to block the deal if elected.

U.S. Steel is headquartered in Pittsburgh in Pennsylvania, one of the key battleground states in the Nov. 5 presidential election. 

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