On Jan. 3, President Joe Biden quashed the deal, citing national security concerns. "This acquisition would place one of America's largest steel producers under foreign control and create risk for ...

"A strong domestically owned and operated steel industry represents an essential national security priority and is critical for resilient supply chains," Biden said in a statement. "Without domestic ...

For months, United States Steel argued that selling out to Japanese-owned Nippon Steel was the only way to survive. President Joe Biden thought different, concluding that even a takeover by a ...

That would have allowed Nippon Steel to advance more proposals to minimize potential national security risks, effectively pushing the matter to the next administration, according to three officials.

Copyright 2025 The Associated Press. All Rights Reserved. New Orleans police and federal agents investigate a deadly New Year’s Day truck attack on Bourbon Street ...

argued that selling out to Japanese-owned Nippon Steel Corp. was the only way to survive. President Joe Biden thought different, concluding that even a takeover by a company based in close ally Japan ...

Copyright 2025 The Associated Press. All Rights Reserved. President Joe Biden has blocked the nearly $15 billion proposed deal for Nippon Steel of Japan to purchase ...

Biden said there is "credible evidence" that Nippon Steel "might take action that threatens to impair the national security of the United States." "This action reflects my unflinching commitment ...

US Steel's £11.4billion sale to a Japanese rival has been blocked by Joe Biden on national security grounds. Shares in the American giant fell around 7 per cent in response to the outgoing US ...

CFIUS (pronounced SIFF-ee-yuhs) voiced concerns that the transaction could pose a national security threat to the United States by potentially leading to a decline in American steel production.

President Joe Biden has formally blocked a proposed near-$15 billion acquisition of U.S. Steel by Nippon Steel of Japan due to "national security" concerns. The decision, announced on Jan.

US Steel Corporation workers rally outside the company's headquarters in Pittsburgh, Pennsylvania, supporting the takeover by Japan's Nippon Steel, on September 4, 2024. United States Steel warned ...