Nippon Purchase of U.S. Steel Blocked

Per a Bloomberg report, President Biden has blocked the proposed $14.1 billion sale of U.S. Steel to Japan's Nippon Steel, on national-security grounds. In a statement, Biden vowed to keep the U. S. Steel "American-owned, American-operated, by American union steelworkers."

U.S. Steel now may seek a new buyer, according to Bloomberg.

See also: U.S. Steel Corp.

Technologies: Materials

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