Nippon Steel Corp. is confident that it will finalize its acquisition of United States Steel Corp. by the end of this year.

The Japanese steelmaker believes that the deal will benefit the U.S. economy and job creation, aligning with efforts to enhance competitiveness against major global players, particularly in China.

However, the acquisition is facing challenges, including opposition from labor unions and the outgoing Biden administration. The recent election of Donald Trump has added complexity to the situation, potentially impacting the regulatory landscape surrounding the deal.