American Steel Buyers Hail Nippon Deal That Scares Washington

Steel traders, automotive customers and even United States Steel Corp. workers are hailing the iconic American company’s decision to sell to a Japanese rival. That has left the steel industry wondering why politicians in Washington are eager to cast doubt on the $14.1 billion deal.

Nippon Steel Corp.’s December offer to buy US Steel — and the subsequent political pushback — was the hot topic when the industry gathered in Florida earlier this week at one of North America’s largest steel conferences. The overriding sentiment was that the deal will make domestic steel pricing more competitive than a takeover by ...