Biden blocks $14.9B sale of U.S. Steel to Japan's Nippon Steel
1 week, 5 days ago

Biden blocks $14.9B sale of U.S. Steel to Japan's Nippon Steel

Salon  

President Joe Biden said Friday he would block the nearly $15 billion acquisition of U.S. Steel by Nippon Steel of Japan, citing national security concerns. “As a committee of national security and trade experts across the executive branch determined, this acquisition would place one of America’s largest steel producers under foreign control and create risk for our national security and our critical supply chains,” Biden said. Nippon Steel had said it addressed the panel's concerns and made key commitments to grow U.S. Steel and protect American jobs. Nippon said the committee's concerns were “littered with factual inaccuracies and omissions, misleading and incomplete statements, conjecture and hypotheticals that have no basis in fact and are plainly illogical.” Nippon faces paying a $565 million penalty to U.S. Steel over the collapsed deal and has said it would consider pursuing legal action against the U.S. government.

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History of this topic

Japan's PM raises strong concerns over Biden's decision to block steel deal
2 days, 10 hours ago

Japan's PM raises strong concerns over Biden's decision to block steel deal

Firstpost  

Citing national security concerns, Biden put a stop to the $14.9 billion sale earlier this month and irked one of Washington’s closest allies This photo shows signage on the exterior of a blast furnace building during a media tour by Japanese company Nippon Steel at their East Nippon Works Kashima Area facility in Kashima, Ibaraki prefecture, north of Tokyo on …

Japanese Prime Minister raises concerns with Biden over his move to block Nippon Steel deal for US Steel
Trending News
2 days, 13 hours ago

Japanese Prime Minister raises concerns with Biden over his move to block Nippon Steel deal for US Steel

CNN  

Japan Prime Minister Shigeru Ishiba asked US President Joe Biden to allay concerns in the Japanese and US business communities over his order to block Nippon Steel’s planned acquisition of U.S. Steel. “Prime Minister Ishiba pointed out that cooperation among allies and like-minded countries is indispensable for establishing resilient supply chains, and that it is important to make efforts to …

Joe Biden’s mixed legacy on Japan
3 days, 1 hour ago

Joe Biden’s mixed legacy on Japan

Live Mint  

WITHIN 24 HOURS on January 6th, two events took place that encapsulate the mixed legacy Joe Biden will leave in America’s relationship with Japan. That afternoon North Korea tested an intermediate-range ballistic missile, and America shared data about the launch in real time with Japan and South Korea; such co-operation is the fruit of the Biden administration’s efforts to foster …

Biden administration delays enforcement of order blocking Nippon Steel, U.S. Steel deal
3 days, 10 hours ago

Biden administration delays enforcement of order blocking Nippon Steel, U.S. Steel deal

The Hindu  

The Biden administration will hold off enforcing a requirement laid out in an executive order this month that Nippon Steel abandon its $14.9 billion bid for U.S. Steel, the companies said on Saturday. U.S. President Joe Biden blocked Nippon Steel's planned acquisition of U.S. Steel on national security grounds on January 3, and his Treasury Secretary Janet Yellen said this …

US rejection of Nippon Steel’s bid for US Steel rankles Washington’s key ally in Asia
1 week, 1 day ago

US rejection of Nippon Steel’s bid for US Steel rankles Washington’s key ally in Asia

Associated Press  

BANGKOK — U.S. President Joe Biden’s decision to reject a bid by Nippon Steel to acquire U.S. Steel on national security grounds isn’t the first time friction over trade and investment has irked Washington’s closest ally in Asia. Here are some key issues at stake: Making nice While in Tokyo in a farewell tour before Biden leaves office, Blinken told …

Nippon Steel stands firm on a U.S. Steel takeover and denies risks cited by Biden
1 week, 1 day ago

Nippon Steel stands firm on a U.S. Steel takeover and denies risks cited by Biden

The Hindu  

Nippon Steel was standing firm on its proposed $15 billion acquisition of U.S. Steel, Chief Executive Eiji Hashimoto said Tuesday after President Joe Biden’s blocked the top Japanese steelmaker’s move. Nippon Steel Corp. and U.S. Steel filed federal lawsuits Monday challenging the Biden administration’s decision as ignoring “the rule of law.” In separate lawsuits in the U.S. Court of Appeals …

Nippon Steel stands firm on a US Steel takeover and denies risks cited by Biden
Top News
1 week, 1 day ago

Nippon Steel stands firm on a US Steel takeover and denies risks cited by Biden

Associated Press  

TOKYO — Nippon Steel was standing firm on its proposed $15 billion acquisition of U.S. Steel, Chief Executive Eiji Hashimoto said Tuesday after President Joe Biden’s blocked the top Japanese steelmaker’s move. Nippon Steel Corp. and U.S. Steel filed federal lawsuits Monday challenging the Biden administration’s decision as ignoring “the rule of law.” In separate lawsuits in the U.S. Court …

Nippon Steel stands firm on a US Steel takeover and denies risks cited by Biden
1 week, 1 day ago

Nippon Steel stands firm on a US Steel takeover and denies risks cited by Biden

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Nippon Steel was standing firm …

Nippon Steel and U.S. Steel file suit after Biden administration blocks $15-billion deal
1 week, 2 days ago

Nippon Steel and U.S. Steel file suit after Biden administration blocks $15-billion deal

LA Times  

Nippon Steel and U.S. Steel filed a federal lawsuit challenging a Biden administration decision to block Nippon’s proposed $15-billion acquisition of the Pittsburgh company and said that the head of the steelworkers union and a rival steelmaker worked together to scuttle the buyout. Biden said Friday that U.S. companies producing a large amount of steel need to “keep leading the …

Biden killed US Steel deal even though some US officials rejected national security concerns
1 week, 2 days ago

Biden killed US Steel deal even though some US officials rejected national security concerns

CNN  

New York CNN — President Joe Biden decided to block the $14 billion takeover of US Steel by Japan’s Nippon Steel even though some top US officials did not believe there were sufficient national security grounds to kill the deal, a US official told CNN. “This acquisition would place one of America’s largest steel producers under foreign control and create …

U.S. Steel sues to salvage its sale to Japan's Nippon Steel
Top News
1 week, 2 days ago

U.S. Steel sues to salvage its sale to Japan's Nippon Steel

NPR  

U.S. Steel sues to salvage its sale to Japan's Nippon Steel toggle caption Rebecca Droke/AFP U.S. Steel and its would-be Japanese suitor Nippon Steel have gone to court to defend their $15 billion merger, after President Biden on Friday moved to block the deal, citing national security concerns. In prohibiting the sale last week, Biden said foreign ownership of U.S. …

US Steel sues Biden administration for blocking its sale to Nippon
Top News
1 week, 2 days ago

US Steel sues Biden administration for blocking its sale to Nippon

NPR  

US Steel sues Biden administration for blocking its sale to Nippon US Steel has gone to court to salvage its sale to a Japanese steelmaker. U.S. Steel and Nippon Steel insist their combination would enhance, not threaten, U.S. security, and they accuse the president of playing politics. You know, the president warned that letting Nippon Steel buy U.S. Steel could …

US Steel, Nippon sue Biden administration over decision to block merger
1 week, 2 days ago

US Steel, Nippon sue Biden administration over decision to block merger

Al Jazeera  

The lawsuit alleges US President Joe Biden violated the companies’ right to a fair merger review. Nippon Steel and US Steel have filed a federal lawsuit in the United States challenging the Biden administration’s decision to block Nippon’s proposed $15bn acquisition of the Pittsburgh company. The lawsuit, filed on Monday, alleges US President Joe Biden prejudiced the decision of the …

U.S. Steel, Nippon Steel sue over blocked deal
1 week, 2 days ago

U.S. Steel, Nippon Steel sue over blocked deal

Salon  

U.S. Steel and Japan's Nippon Steel sued the U.S. government on Monday after President Joe Biden blocked their $14.9 billion merger, citing national security risks. The companies argue that his previous statements meant the review process was “designed to reach a predetermined result.” The lawsuit asked the court to set aside the Committee's review process and Biden’s order, citing "violation …

Biden's decision to block Nippon Steel takeover creates uncertainty for U.S. Steel workers
1 week, 3 days ago

Biden's decision to block Nippon Steel takeover creates uncertainty for U.S. Steel workers

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. In making its nearly $15 billion bid for …

Biden’s decision to block Nippon Steel takeover creates uncertainty for U.S. Steel workers
1 week, 3 days ago

Biden’s decision to block Nippon Steel takeover creates uncertainty for U.S. Steel workers

Associated Press  

WASHINGTON — By blocking a Japanese company’s takeover of U.S. Steel, President Joe Biden said he was protecting good jobs in the American heartland. In making its nearly $15 billion bid for the storied Pittsburgh-based steelmaker, Nippon Steel had promised to invest $2.7 billion in U.S. Steel’s aging blast furnace operations in Gary, Indiana, and Pennsylvania’s Mon Valley. “They were …

White House copy-pastes from previous order? X user points out error in Nippon Steel order, netizens say, ‘No way…’
1 week, 4 days ago

White House copy-pastes from previous order? X user points out error in Nippon Steel order, netizens say, ‘No way…’

Live Mint  

The White House released an order Friday to prohibit the $14.9 billion sale of US Steel to Japan's Nippon Steel, citing that the deal could “impair the national security of the United States.” The decision, which drew criticism from both parties, came after the government panel could not decide whether the acquisition would harm US national security. The user claimed …

Biden blocks Japanese takeover of US Steel on national security grounds
Trending News
1 week, 4 days ago

Biden blocks Japanese takeover of US Steel on national security grounds

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy President Joe Biden on Friday invoked a rarely-used presidential power …

Biden Rejects Nippon Steel's Proposed Deal To Acquire U.S. Steel
1 week, 5 days ago

Biden Rejects Nippon Steel's Proposed Deal To Acquire U.S. Steel

Huff Post  

Biden affirmed his vow in March to block the acquisition. via Associated Press WASHINGTON — President Joe Biden has rejected the nearly $15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel — affirming his vow in March to block the acquisition. “We need major U.S. companies representing the major share of US steelmaking capacity to …

Biden blocks $14 billion acquisition of US Steel by Japan’s Nippon Steel
1 week, 5 days ago

Biden blocks $14 billion acquisition of US Steel by Japan’s Nippon Steel

Associated Press  

WASHINGTON — President Joe Biden has blocked the nearly $15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel — affirming his earlier vow on the presidential campaign trail to prevent the acquisition of Steeltown USA’s most storied steel company. In their statement, the two steel companies said it’s “shocking — and deeply troubling” that the …

Biden to block U.S.-Japan steel deal: U.S. media
Top News
1 week, 5 days ago

Biden to block U.S.-Japan steel deal: U.S. media

Raw Story  

U.S. President Joe Biden has decided to block the proposed $14.9 billion purchase of U.S. Steel by Japan's Nippon Steel and will announce the move as soon as Friday, according to U.S. media. Biden decided to block the deal despite intense efforts to sway him in recent days by some of his senior advisors, who warned that rejecting a sizable …

Joe Biden blocks Nippon Steel-US Steel merger citing Trump and unions opposition. What this means?
1 week, 5 days ago

Joe Biden blocks Nippon Steel-US Steel merger citing Trump and unions opposition. What this means?

Live Mint  

United States President Joe Biden has officially decided to block Nippon Steel's proposed acquisition of US Steel, sources told Reuters on January 3. "I am totally against the once great and powerful US Steel being bought by a foreign company, in this case Nippon Steel of Japan," he wrote on his Truth Social platform last month. !” Outcome of a …

US Steel Sale to Nippon Blocked by Biden. What Happens Next?
1 week, 5 days ago

US Steel Sale to Nippon Blocked by Biden. What Happens Next?

Bloomberg  

US President Joe Biden ’s decision to block Nippon Steel Corp.’s $14.1 billion takeover of United States Steel Corp. has sparked fresh uncertainty for the American icon that’s been at the heart of a domestic political firestorm in the US and fueled tensions with long-time diplomatic ally Japan. Biden announced his formal decision on Friday after the case was referred …

Biden to block Nippon Steel’s takeover of US Steel, reports say
Top News
1 week, 5 days ago

Biden to block Nippon Steel’s takeover of US Steel, reports say

Al Jazeera  

US president expected to announce decision to block proposed sale of Pittsburgh-based steelmaker as early as Friday. United States President Joe Biden has decided to block the proposed takeover of US Steel by Japan’s Nippon Steel, US media has reported. Biden’s decision comes after the Committee on Foreign Investment in the United States last month failed to reach a consensus …

Biden blocks sale of US Steel to Japan’s Nippon Steel
1 week, 5 days ago

Biden blocks sale of US Steel to Japan’s Nippon Steel

Al Jazeera  

Biden cites need to ‘level playing field’ in long anticipated blocking of $14.6bn sale likely to roil ties with Tokyo. United States President Joe Biden has blocked the $14.9bn sale of the Pittsburgh, Pennsylvania-based US Steel to Japan’s Nippon Steel. “This acquisition would place one of America’s largest steel producers under foreign control and create risk for our national security …

Biden set to block Japan’s Nippon from taking over US Steel, reports say
1 week, 5 days ago

Biden set to block Japan’s Nippon from taking over US Steel, reports say

CNN  

New York CNN — President Joe Biden plans to announce as soon as Friday that he is blocking a $14.3 billion of US Steel by Japan’s Nippon Steel, according to published reports in the Washington Post and New York Times, which cited administration officials. Late last month, the Committee for Foreign Investment in the United States, known colloquially as CFIUS, …

Biden rejects Nippon Steel’s proposed deal to acquire U.S. Steel
1 week, 5 days ago

Biden rejects Nippon Steel’s proposed deal to acquire U.S. Steel

LA Times  

President Joe Biden speaks at an event to award the Presidential Citizens Medal to recipients in the East Room at the White House on Thursday. President Biden has rejected the nearly $15-billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel — affirming his vow in March to block the acquisition. “We need major U.S. companies representing …

Biden will decide on U.S. Steel acquisition after influential panel fails to reach consensus
3 weeks ago

Biden will decide on U.S. Steel acquisition after influential panel fails to reach consensus

LA Times  

Coal is loaded onto a barge in September near a U.S. Steel facility in Clairton, Pa. A powerful government panel on Monday failed to reach consensus on the possible national security risks of a nearly $15 billion proposed deal for Nippon Steel of Japan to purchase U.S. Steel, leaving the decision to President Biden, who opposes the deal. Biden, backed …

Biden Will Decide On U.S. Steel Acquisition After Influential Panel Fails To Reach Consensus
3 weeks ago

Biden Will Decide On U.S. Steel Acquisition After Influential Panel Fails To Reach Consensus

Huff Post  

FILE - The United States Steel logo is pictured outside the headquarters building in downtown Pittsburgh, April 26, 2010. via Associated Press WASHINGTON — A powerful government panel on Monday failed to reach consensus on the possible national security risks of a nearly $15 billion proposed deal for Nippon Steel of Japan to purchase U.S. Steel, leaving the decision to …

Biden will decide on US Steel acquisition after influential panel fails to reach consensus
3 weeks, 1 day ago

Biden will decide on US Steel acquisition after influential panel fails to reach consensus

Associated Press  

WASHINGTON — A powerful government panel on Monday failed to reach consensus on the possible national security risks of a nearly $15 billion proposed deal for Nippon Steel of Japan to purchase U.S. Steel, leaving a decision to President Joe Biden, a longtime opponent of the deal. Biden, backed by the United Steelworkers, said earlier this year that it was …

Biden to Decide on US Steel Acquisition After Panel Deadlocks
3 weeks, 1 day ago

Biden to Decide on US Steel Acquisition After Panel Deadlocks

Live Mint  

A US national security panel has deadlocked on its review of the sale of United States Steel Corp. to Nippon Steel Corp., a procedural development that opens the door for President Joe Biden to block the transaction. Biden has long indicated his opposition to the transaction and is said to still be planning on blocking it, though the White House …

US-Japan steel deal goes to Biden for final decision after panel deadlocks
3 weeks, 1 day ago

US-Japan steel deal goes to Biden for final decision after panel deadlocks

Al Jazeera  

Committee on Foreign Investment in the US fails to agree on national security risks of proposed takeover of US Steel. A decision on whether to allow Nippon Steel’s proposed takeover of US Steel has fallen to United States President Joe Biden after a government panel failed to agree on possible national security risks. US President-elect Donald Trump, who takes office …

Biden to decide fate of Nippon Steel's $15B bid for U.S. Steel
3 weeks, 1 day ago

Biden to decide fate of Nippon Steel's $15B bid for U.S. Steel

Salon  

Nippon Steel’s $15 billion bid to buy U.S. Steel has been referred to President Joe Biden after a government panel could not decide whether it should go forward. The panel has said allowing the Japanese to take over Pittsburgh-based U.S. Steel could result in lower domestic steel production, representing “a national security risk," according to the Washington Post. Nippon Steel …

U.S. Steel sale now in Biden’s hands
Trending News
3 weeks, 2 days ago

U.S. Steel sale now in Biden’s hands

Politico  

A top White House official first signaled Biden’s concern about Nippon Steel’s proposed purchase of the iconic American company one year ago, saying the deal appeared “to deserve serious scrutiny in terms of its potential impact on national security and supply chain reliability.” In March, Biden came out more strongly against it, saying it was “vital” for U.S. Steel “to …

Fate of US Steel’s deal with Japan’s Nippon is now up to Biden, sources say
3 weeks, 2 days ago

Fate of US Steel’s deal with Japan’s Nippon is now up to Biden, sources say

CNN  

CNN — A committee of top government agency officials has notified President Joe Biden that it has not reached a consensus on whether a sale of US Steel to a Japanese rival poses a national security risk, according to two sources familiar with the matter. “The transaction between US Steel and Nippon Steel enhances US national and economic security through …

Nippon-US steel executives are running out of time to save $14 billion deal
3 weeks, 6 days ago

Nippon-US steel executives are running out of time to save $14 billion deal

Live Mint  

GARY, Ind.—In a meeting room facing U.S. Steel’s century-old plant, Takahiro Mori offered his vision for the plant’s next chapter under a new owner. If the deal collapses, U.S. Steel Chief Executive Dave Burritt has warned that the company can’t match Nippon Steel’s planned investments, and would likely close plants and move its headquarters out of Pittsburgh. ‘A good deal’ …

Japan's Nippon Steel sets sights on a growing overseas market in its bid to acquire US Steel
1 month, 1 week ago

Japan's Nippon Steel sets sights on a growing overseas market in its bid to acquire US Steel

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The signs at Nippon Steel …

Trump vows to block Japanese steelmaker from buying US Steel, pledges tax incentives and tariffs
1 month, 1 week ago

Trump vows to block Japanese steelmaker from buying US Steel, pledges tax incentives and tariffs

Associated Press  

HARRISBURG, Pa. — President-elect Donald Trump is underscoring his intention to block the purchase of U.S. Steel by Japanese steelmaker Nippon Steel Corp., and he’s pledging to use tax incentives and tariffs to strengthen the iconic American steelmaker. !” President Joe Biden, like Trump, also opposes Nippon Steel’s purchase of Pittsburgh-based U.S. Steel. In a statement Tuesday, the union said …

Trump says will 'block' Nippon Steel from taking over US Steel
1 month, 1 week ago

Trump says will 'block' Nippon Steel from taking over US Steel

Deccan Chronicle  

Washington: US President-elect Donald Trump on Monday said he would “block” a planned takeover of US Steel by Japanese company Nippon Steel, a deal worth $14.9 billion including debts. Nippon Steel said after Trump's comments that it was “determined to protect and grow US Steel in a manner that reinforces American industry, domestic supply chain resiliency, and US national security.””We …

US Steel: Trump again vows to block Japanese firm’s controversial takeover
1 month, 1 week ago

US Steel: Trump again vows to block Japanese firm’s controversial takeover

CNN  

CNN — President-elect Donald Trump has again indicated that he intends to block a Japanese firm’s $15 billion takeover bid of US Steel upon taking office, saying the former American giant can eventually stand on its own. “We will invest no less than $2.7 billion into its unionized facilities, introduce our world-class technological innovation, and secure union jobs so that …

Biden administration appears to be in no rush to stop U.S. Steel takeover by Nippon Steel
4 months ago

Biden administration appears to be in no rush to stop U.S. Steel takeover by Nippon Steel

Associated Press  

WASHINGTON — President Joe Biden has voiced his opposition to Nippon Steel buying U.S. Steel, but the federal government appears to be in no hurry to block the deal. That’s the process.” The proposed takeover carries some heavy political weight in Pennsylvania, a state that both Vice President Kamala Harris and Donald Trump view as a must-win in November’s presidential …

Biden's nixing of steel deal reveals little trust in ally
4 months, 1 week ago

Biden's nixing of steel deal reveals little trust in ally

China Daily  

US President Joe Biden at the White House in Washington, US, May 15, 2024. US President Joe Biden is reportedly prepared to block Japan's Nippon Steel's proposed acquisition of US Steel. Biden raised "national security" concerns over the deal several months ago saying it is "vital for it to remain an American steel company that is domestically owned and operated". …

Biden's nixing of steel deal reveals little trust in ally
4 months, 1 week ago

Biden's nixing of steel deal reveals little trust in ally

China Daily  

US President Joe Biden at the White House in Washington, US, May 15, 2024. US President Joe Biden is reportedly prepared to block Japan's Nippon Steel's proposed acquisition of US Steel. Biden raised "national security" concerns over the deal several months ago saying it is "vital for it to remain an American steel company that is domestically owned and operated". …

In a rare move of intervention, the sale of U.S. Steel may be blocked by the president
4 months, 1 week ago

In a rare move of intervention, the sale of U.S. Steel may be blocked by the president

NPR  

In a rare move of intervention, the sale of U.S. Steel may be blocked by the president Biden, Harris and former President Trump all oppose Nippon Steel's $14 billion purchase of U.S. Steel. MARY LOUISE KELLY, HOST: President Biden reportedly plans to block the sale of U.S. Steel to a Japanese steelmaker. Ever since Japan's Nippon Steel company announced back …

Biden preparing to block Nippon takeover of US Steel
4 months, 1 week ago

Biden preparing to block Nippon takeover of US Steel

Politico  

CFIUS examines foreign investments for potential threats to national security. Biden has already expressed opposition to Japanese-owned Nippon’s proposed takeover of U.S. Steel, saying the iconic U.S. company should remain American owned. “Without the Nippon Steel transaction, U.S. Steel will largely pivot away from its blast furnace facilities, putting thousands of good-paying union jobs at risk, negatively impacting numerous communities …

Nippon Steel delays closing of acquisition of US Steel until late this year after US DOJ request
8 months, 1 week ago

Nippon Steel delays closing of acquisition of US Steel until late this year after US DOJ request

Associated Press  

TOKYO — Nippon Steel said Friday it has postponed the expected closing of its $14.1 billion takeover of U.S. Steel by three months after the U.S. Department of Justice requested more documentation related to the deal. Tokyo-based Nippon Steel Corp. said the deal, already approved by U.S. Steel’s shareholders, is still expected to go through. First announced in December last …

Biden vows to block Japanese purchase of US Steel and could triple tariffs on some Chinese goods
8 months, 4 weeks ago

Biden vows to block Japanese purchase of US Steel and could triple tariffs on some Chinese goods

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy President Joe Biden vowed to prevent US Steel from being …

Biden vows to shield US steel industry by blocking Japanese merger and seeking new Chinese tariffs
8 months, 4 weeks ago

Biden vows to shield US steel industry by blocking Japanese merger and seeking new Chinese tariffs

Associated Press  

PITTSBURGH — President Joe Biden suggested to cheering, unionized steelworkers on Wednesday that his administration would thwart the acquisition of U.S. Steel by a Japanese company, and he called for a tripling of tariffs on Chinese steel, seeking to use trade policy to win over working-class votes in the battleground state of Pennsylvania. During a visit to the Pittsburgh headquarters …

US Steel shareholders approve takeover by Japan’s Nippon Steel opposed by Biden administration
9 months ago

US Steel shareholders approve takeover by Japan’s Nippon Steel opposed by Biden administration

Associated Press  

PITTSBURGH — U.S. Steel shareholders have overwhelmingly approved the company’s sale to Nippon Steel of Japan for $14.1 billion in cash, voicing unequivocal support for a combination that has drawn opposition from the Biden administration on economic and national security grounds. More than 98% of the shares voted at a special investor meeting Friday approved the takeover, according to a …

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