President Biden Blocks Nippon Steel’s $14 Billion Takeover of U.S. Steel Over National Security Concerns
In a significant and controversial move, President Joe Biden announced on Friday his decision to block the $14 billion acquisition of U.S. Steel by Nippon Steel, a Japanese company. Citing national security concerns, the president emphasized the importance of keeping the iconic Pennsylvania-based steel producer under domestic ownership. National Security Takes Precedence U.S. Steel, a…