Reported 2 days ago
President Biden's decision to block the Nippon Steel takeover of U.S. Steel, a move intended to safeguard American jobs, has created uncertainty among U.S. Steel workers who supported the deal, which promised significant investments and job security. The rejection may threaten the financial stability of U.S. Steel as they rely on the investment for updating operations, leading to fears of layoffs in key manufacturing areas. The situation reflects a broader shift against free trade policies and raises questions about the future of the American steel industry.
Source: YAHOO