Biden to block U.S. Steel sale to Nippon Steel, Washington Post reports
https://www.japantimes.co.jp/business/2025/01/03/companies/biden-to-block-us-steel-deal/
Posted by The-first-laugh
Biden to block U.S. Steel sale to Nippon Steel, Washington Post reports
https://www.japantimes.co.jp/business/2025/01/03/companies/biden-to-block-us-steel-deal/
Posted by The-first-laugh
2 comments
We need to stop a Japanese company that is headquartered in a major 70-year ally from owning parts of the US steel industry for …reasons.
SS: Biden has decided to block the sale of US steel to Nippon steel. While the majority of US steel shareholders have approved the purchase, the steel union had opposed the sale.
The PM of Japan had urged for the sale to go through as halting/blocking it would mire the efforts to bring both allies even closer. However, it seems like Biden has decided to block the sale; the question is how will Japan respond as Nippon steel was apparently offering multiple gifts, including a veto power to the US government.
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