[ Please SUBSCRIBE YouTube.com/@CISNewsStudio1s our CIS News Studio 1s Channel ]
President Joe Biden has blocked Japan’s Nippon Steel from acquiring US Steel for $14.3 billion, citing national security concerns and the critical role of domestically owned steel production. The politically charged decision, opposed by both Biden and President-elect Donald Trump, underscores bipartisan resistance to foreign control of key U.S. industries.
Announced in December 2023, the deal had drawn scrutiny for its potential impact on U.S. supply chain resilience and industrial strength. The Committee for Foreign Investment in the United States (CFIUS) was unable to reach a consensus, leaving the final call to Biden.
BidenBlocks #Nippons #$14B #USSteelTakeover #CISNewsStudio1s
