Washington, Jan 3, 2025 (AFP) - Biden blocks US Steel sale to Japan's Nippon Steel

NAMPA / AFP

2025-01-03

President Joe Biden on Friday blocked the controversial $14.9 billion sale of US Steel to Japan's Nippon Steel, citing a strategic need to protect domestic industry -- but the move drew sharp criticism from both companies. The decision came after a government panel failed to reach consensus last month on whether the acquisition threatened US national security, shifting the decision to the veteran Democrat in the waning days of his presidency. The......

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