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

NAMPA / AFP

2025-01-04

US Steel and Nippon Steel threatened legal action Friday after President Joe Biden blocked a controversial $14.9 billion deal for the Japanese company to buy its American rival. Biden cited 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 dec......

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