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Biden blocks Nippon Steel sale over national security concerns
Posted
January 4, 2025
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4:27Now PlayingNippon Steel Corp. of Japan and U.S. Steel announced plans to pursue legal action after President Joe Biden blocked their nearly $15 billion acquisition agreement.
The president followed through on a vow he made in March to prevent Nippon Steel’s purchase of U.S. Steel, one of the nation’s largest steel producers.
U.S. Steel operates major facilities in Gary, Indiana, employing nearly 2,000 people. Last month, Gary Mayor Eddie Melton previously warned that blocking the deal could lead to mill closures.
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