US Steel Sale to Japanese Rival Faces Serious Scrutiny by Government and White House
The potential acquisition of US Steel by Japanese steelmaker Nippon Steel may face scrutiny from the US government, according to US Commerce Secretary Gina Raimondo. While not directly commenting on the deal, Raimondo emphasized the need to protect the US steel industry and workers, suggesting that a foreign company buying an American steelmaker would warrant further examination. The deal has faced backlash from the steel industry, US lawmakers, and the United Steelworkers union, who called it "greedy" and "shortsighted." Raimondo and other government officials have expressed concerns about the impact on US workers and national security.
