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Nippon Steel: Why did Biden block a $15B Japanese takeover of US steel? | DW News
Posted
January 3, 2025
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106,310
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January 3, 2025
106,310
1,274
942
2.08%
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5:22Now PlayingIncumbent President Joe Biden has blocked a $15 billion takeover of US Steel by Japan's Nippon Steel.
Biden said it was necessary to protect American industry and prevent a key national asset from coming under foreign control. Both Biden and President-elect Donald Trump also opposed the takeover to protect jobs. Nippon Steel is to challenge the decision. The White House says it's not a slight against Japan, and is aimed at keeping steel production in the US.
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