(Update) Biden to Block Nippon Steel Acquisition of U.S. Steel: Reports
Washington, Sept. 4 (Jiji Press)--U.S. President Joe Biden plans to block Nippon Steel Corp.'s acquisition of United States Steel Corp., U.S. and European media reported Wednesday.
The U.S. government's Committee on Foreign Investment in the United States told the Japanese steelmaker recently that "the deal posed national security concerns that could not be overcome," the British newspaper Financial Times said.
White House Press Secretary Karine Jean-Pierre said that the committee "hasn't transmitted a recommendation yet to the president."
White House national security communications adviser John Kirby reiterated Biden's view that American steel companies should be owned by Americans.
Nippon Steel said in a statement that it strongly believes that the U.S. government will examine the deal appropriately in accordance with law.
(2024/09/05-11:30)
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