[Senators urge White House to investigate Nippon Steel ties to China] 02 April 2024

[Summarised by Business & Human Rights Resource Centre]

The Financial Times reports that a new front in the political campaign to prevent Nippon Steel from completing its proposed $14.9 billion acquisition of US companies has been opened by three US senators who expressed concerns about the the company's ties with China.

Sherrod Brown, an Ohio Democrat who chairs the Senate banking committee, is concerned about allegations that Baowu, the largest Chinese steel company that is involved in a joint venture with Nippon Steel, may have took a part in putting into effect Chinese government's policies in Xinjiang that are viewed as enabling forced labour. According to Horizon's report, some evidence was found that Nippon Steel maintained an office in Xinjiang. Nippon Steel stated to the Financial Times that it has never had an office in the northwest of the country.