"Biden Stands Firm Against Nippon Steel's Takeover of US Steel"

1 min read
Source: The Associated Press
"Biden Stands Firm Against Nippon Steel's Takeover of US Steel"
Photo: The Associated Press
TL;DR Summary

President Joe Biden opposes the planned sale of U.S. Steel to Nippon Steel of Japan, emphasizing the need for strong American steel companies and workers. The $14.1 billion deal has raised concerns about job losses, supply chains, and national security, prompting a review by the Committee on Foreign Investment in the United States. While Biden is not formally blocking the deal, his stance aligns with his focus on American manufacturing and support from prominent unions, as he seeks to resonate with voters in key swing states like Michigan and Pennsylvania.

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