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 …
US president’s remarks come as he is seeking to shore up support in key swing state of Pennsylvania. United States President Joe Biden has opposed the proposed sale of a Pittsburgh-based steel manufacturer to Japan’s largest steel producer, insisting on the need for “strong American steel companies powered by American steelworkers”. “US Steel has been an iconic American steel company …
