(Update) Biden Blocks Sale of U.S. Steel to Nippon Steel
Washington, Jan. 3 (Jiji Press)--U.S. President Joe Biden on Friday blocked the proposed sale of United States Steel Corp. to Japan's Nippon Steel Corp, citing a national security risk.
It is unusual for the U.S. government to block an acquisition of a domestic firm by a company from an ally because of security concerns.
The decision by Biden is likely to affect not only Japan-U.S. relations but also Japanese companies' operations in the United States.
Nippon Steel and U.S. Steel will consider their responses, possibly including legal action.
(2025/01/03-22:59)
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