Biden to Block Sale of U.S. Steel to Nippon Steel: Report
Washington, Jan. 2 (Jiji Press)--U.S. President Joe Biden has decided to block the proposed sale of United States Steel Corp. to Japan's Nippon Steel Corp., The Washington Post reported Thursday.
Biden is expected to announce the decision as early as Friday.
He apparently concluded that the sale of U.S. Steel to a foreign company will pose a national security risk through a potential reduction in steel production in the United States.
The Committee on Foreign Investment in the United States, an interagency national security panel, last month referred the final decision on the deal to Biden.
He had said U.S. Steel needs to be domestically owned and operated.
(2025/01/03-14:29)
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