Reported 2 days ago
President Joe Biden vetoed the proposed $14.1 billion acquisition of US Steel by Nippon Steel, citing national security risks amid internal divisions among advisers and the union's opposition. The decision reflects broader tensions in US policy regarding strategic industries and alliances, particularly in relation to job preservation and foreign ownership. Despite attempts to negotiate conditions for the deal and support from some state officials, Biden's stance remained firm, culminating in an official rejection two months post-election.
Source: YAHOO