Biden blocks Japan's $14 billion takeover of US Steel on national security grounds
Joe Biden said the deal would create "risk for our national security and our critical supply chains." President-elect Trump also opposed the takeover.
Why Biden cited national security concerns as he blocked a Japanese bid to buy U.S. Steel
President Biden said he would block the sale of one of America’s most iconic companies to a Japanese firm. In December 2023, Nippon Steel announced it would buy U.S. Steel for more than $14 billion. Nick Schifrin discussed the president's decision with David Wessel of the Brookings Institution and Sheila Smith of the Council on Foreign Relations.
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Biden blocks Japanese takeover of U.S. Steel
President Biden is blocking the proposed $14 billion acquisition of U.S. Steel by Nippon Steel. Fox - 10 Phoenix Fox - 10 Phoenix
Biden blocks US Steel sale to Japanese competitor
President Joe Biden formally blocked a proposed $14.9 billion takeover of U.S. Steel by a Japanese company, the White House announced Friday. “It is my solemn responsibility as President to ensure that,
Biden decides to block U.S. Steel sale to Japanese buyer
The move comes after a year of political and economic drama. It leaves the future of the once-iconic American business in doubt.
President Biden blocks sale of US Steel to Japanese company
In blocking the sale to Nippon Steel, Biden said U.S. Steel "will remain a proud American company – one that’s American-owned and American-operated."
Biden’s National-Security Aides Wanted to Keep Steel Deal Alive
President Biden went against top national-security aides when deciding to tank a Japanese takeover of U.S. Steel and instead align with domestic advisers, bolstering his pro-union legacy.
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