Biden's decision: Formal block on Nippon Steel's acquisition of U.S. Steel
2025-02-06
On January 3, 2025, US President Biden decided to formally block Nippon Steel's acquisition of US Steel to prevent foreign ownership of key US companies. Biden said that if the acquisition is approved, one of the largest steel producers in the United States will be controlled by foreign countries and pose risks to US national security and key supply chains.
So far, Nippon Steel's acquisition plan for US Steel, which began at the end of 2023, has failed.
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