Nippon Steel has intensified its efforts to acquire U.S. Steel, sending a new proposal to President Biden in a final bid for support. The Japanese company is reportedly negotiating directly with the White House to bolster its acquisition attempts. In a notable move, Nippon Steel has offered a 10-year guarantee not to cut production capacity at U.S. Steel mills and a veto power to the U.S. government over any potential output reductions. As a result of these developments, shares of U.S. Steel have surged significantly in the market. However, local concerns persist, with mayors from several Pittsburgh-area communities expressing apprehension about the sale. The Biden administration is yet to reach a consensus on the acquisition, and the decision is anticipated to have lasting implications for U.S. capitalism.