In an unprecedented move, President Biden’s administration has signaled it would block Nippon Steel’s $15 billion acquisition of U.S. Steel, citing national security concerns, even though Japan is one of the U.S. government’s closest allies.

Reuters News has reported, “Nippon’s planned acquisition of the U.S. steelmaker faces opposition from Democrats and Republicans, with Vice President and Democratic presidential candidate Kamala Harris saying on Monday she wants U.S. Steel to remain American owned and operated. Her Republican rival Donald Trump has pledged to block the deal if elected.” 9/5/2024