>> Mary: AND YAY, WOMEN, FOR WINNING THE TITLE.

JUST SAY THAT OUT LOUD.

>> Eric: ABSOLUTELY.

A TOP EXECUTIVE FROM NIPPON STEEL OF JAPAN WAS BACK IN THE U.S.

THIS WEEK.

VICE PRESIDENT TAKAHIRO MORI IS TRYING TO DRUM UP SUPPORT FOR A $14.9 BILLION CASH BID TO PURCHASE U.S. STEEL.

BUT THE DEAL FACES POLITICAL AND REGULATORY SCRUTINY AND A POWERFUL UNION.

REPORTER KAOMI LEE HAS THIS REPORT.

>> THE FUTURE IS NOW.

LOOK WHAT THEY'VE CREATED.

[ Applause ] >> Kaomi: U.S. STEEL PRESIDENT DAVID BURRETT CELEBRATED A MILESTONE WEEKS AGO WITH STATE OFFICIALS ON THE IRON RANGE.

>> IT'S GREAT TO SEE THIS AS A WONDERFUL GREEN PROJECT.

YOU KNOW?

IT'S GREAT.

YOU KNOW, GREEN, GREAT FOR THE ENVIRONMENT.

GREAT FOR THE COMPANY.

GREAT FOR OUR EMPLOYEES.

>> Kaomi: THE PITTSBURGH BASED COMPANY PUMPED IN $150 MILLION INTO IT'S KEYTAC TACONITE IRON ORE PLANT.

THE FACILITY NOW PRODUCES DIRECT REDUCTION IRON ORE PELLETS FOR TEEL MAKING.

THOSE PELLETS FEED ELECTRIC ARC FURNACES THAT CUT CO2 EMISSIONS BY 70%.

ON HAND TO HERE ABOUT IT WERE SOME OVERSEAS GUESTS.

>> WE ALSO HAVE SOME OTHER PEOPLE I'D LIKE TO STAND AND BE RECOGNIZED HERE.

FROM NIPPON.

WE'RE EXCITED ABOUT THE FUTURE.

IT'S -- IT'S SOMETHING THAT WAS SURPRISING THAT WE ENDED UP IN THIS PLACE.

>> Kaomi: NIPPON STEEL OF JAPAN HAS OFFERED TO BUY U.S. STEEL IN CASH FOR $14.9 BILLION, BOTH PRESIDENT BIDEN AND PRESUMPTIVE REPUBLICAN PRESIDENTIAL CANDIDATE DONALD TRUMP OPPOSE THE DEAL.

U.S. STEEL AND ITS SHAREHOLDERS, HOWEVER, ARE CLEARLY WON OVER.

>> THIS IS GREAT FOR U.S. STEEL.

U.S. STEEL CORPORATION REMAINS, KEEPS ITS HEADQUARTERS, KEEPS ITS BRAND.

>> Kaomi: U.S. STEEL IS SAYING VERY LITTLE ABOUT THE DEAL THAT UNDERSCORES HOW SENSITIVE IT IS.

HERE T STEEL WORKERS LOCAL 1938, LEADERSHIP DID ANT TO TALK.

THE UNION REPRESENTS 1300 WORKERS.

NATIONWIDE, STEEL WORKERS ARE AGAINST THE DEAL.

WHY WOULD THIS POTENTIAL DEAL BY NIPPON STEEL BE BAD FOR YOUR MEMBERS?

>> POSSIBLE BROKEN PROMISES THAT WE'RE HEARING ABOUT BY NIPPON AND U.S. STEEL.

WE HAVE THE SUCCESSORSHIP LANGUAGE IN PLACE THAT ACCORDING TO OUR INTERNATIONAL UNION ND WE'VE BOTH BEEN OUT THERE, FOUR MEETINGS, THAT JUST -- WHAT THEY'RE SAYING AND WHAT THEY'RE SENDING OUT FOR LITERATURE IS NOT WHAT THEY'RE TELLING OUR INTERNATIONAL LEADERSHIP.

>> Kaomi: OF TOP CONCERN IS RETIREE PENSION AND HEALTH BENEFITS.

THE GOLDEN PROMISE FOR THOUSANDS OF UNION MEMBERS, RETIREES AND THEIR FAMILIES.

>> IT'S THE PEOPLE THAT HAVE THE MAJORITY OF THEIR LIVES IN THIS, IN THESE PLACES, AND THEY'RE COUNTING ON WORKING UNTIL RETIREMENT OR VERY CLOSE TO RETIREMENT.

>> Kaomi: NIPPON STEEL DID NOT RESPOND TO OUR MEDIA REQUESTS, BUT ON A PRESS RELEASE ON ITS WEBSITE, VICE CHAIRMAN TAKAHIRO MORI STATES OUR GOAL FOR THIS TRANSACTION HAS BEEN CLEAR AND CONSISTENT, TO PROTECT AND GROW U.S. STEEL.

WE ARE CONFIDENT THAT THIS TRANSACTION WILL BE FOR THE BENEFITTED OF ALL ALL U.S. STEEL STAKEHOLDERS INCLUDING CUSTOMERS, EMPLOYEES, SUPPLIERS AND COMMUNITIES.

THE COMPANY SAYS IT HAS CLEARED NON-U.S. REGULATORY APPROVALS, BUT THE SALE STILL FACES SCRUTINY FROM THE U.S. DEPARTMENT OF JUSTICE AND THE COMMITTEE ON FOREIGN INVESTMENT.

SOME WORKERS SAY THEY'D HOPED THAT A ALE TO DOMESTIC COMPETITOR CLEVELAND CLIFFS WOULD KEEP IT U.S.

OWNED.

OTHERS SAY THAT THINKING IS SHORT SIGHTED.

>> WE NEED NIPPON STEEL MORE THAN THEY NEED US.

AND FRANKLY, ALL OF THE GROUP IN STEEL DEMAND IS COMING FROM THE EMERGING MARKETS.

AND THE U.S. STEEL INDUSTRY IS JUST MISSING IN ACTION THERE.

WE'RE NOT THERE.

WE'RE NOT PRESENT.

AND SO IF WE WANT TO GROW OUR STEEL INDUSTRY, IF WE WANT OUR WORKERS TO HAVE, YOU KNOW, SECURE GREAT JOBS IN THE FUTURE, WE HAVE TO BE PRESENT IN TERMS OF BEING ABLE TO SUPPLY THE WORLD'S STEEL DEMAND.

>> Kaomi: ZAHIR SAYS NIPPON STEEL HAS INVESTED HEAVILY IN TECHNOLOGY.

IT'S ALSO USING CLEANER FUELS THAN THE U.S. STEEL INDUSTRY.

SHE SAYS WHAT NIPPON STEEL WANTS IS TO EXPAND ITS U.S.

FOOTHOLD.

>> THE U.S. IS STILL THE LARGEST IMPORTER OF STEEL IN THE WORLD.

SO THE US MARKET STILL MATTERS AND I THINK WHAT THEY ARE SEEING IS THE PROTECTIONISM.

AND IT DOESN'T MATTER WHO WINS THIS NEXT ELECTION.

IT DOESN'T SEEM LIKE THE TARIFFS OR THE PROTECTIONISM IS GOING TO GO AWAY.

>> Kaomi: WORK CULTURES BETWEEN THE TWO STEEL MAKERS MIGHT NOT BE SO FAR APART.

IN MINNESOTA JAPAN'S BUSINESS FOOTPRINT IS GROWING.

JAPAN IS A TOP FIVE TRADING PARTICIPATE WITH THE STATE.

>> WHEN I SAW THE TRADE OFFICE, WE WERE AROUND 20 JAPANESE INVESTMENTS.

AS OF TODAY, WE'RE ALMOST AT 50.

50 COMPANIES DECIDED TO CHOOSE MINNESOTA AS THEIR HEADQUARTERS.

AS THEIR U.S. HEADQUARTERS.

YES.

>> Kaomi: U.S. STEEL AND ITS UNION WILL MEET IN ARBITRATION ON AUGUST 15TH OVER CONTRACT GRGRIEVANCES.

THE LABOR AGREEMENT RUBS UNTIL 2026.

NIPPON STEEL SAYS IT EXPECTS TO CLOSE THE DEAL THE SECOND HALF OF THIS YEAR.

IT SAYS IT WILL HONOR THE LABOR AGREEMENT AND THERE WILL BE NO LAYOFFS.

BUT UNION LOCAL LEADERS AREN'T CONVINCED.

>> WE KNOW THE UP AND DOWNS OF STEEL MAKING AND OUR MINES.

IT CAN HAPPEN OVERNIGHT.

THERE ARE NO GUARANTEES ON LAYOFFS.

>> INITIALLY IT CAME OUT NO LAYOFFS UNTIL 2026.

>> THE