Reported 3 days ago
President Biden has blocked the $14.1 billion sale of U.S. Steel to Japan's Nippon Steel, reinforcing his pledge for domestic ownership of essential industries. The decision followed an extensive review by a federal panel concerning potential national-security risks. Biden emphasized the importance of maintaining a robust U.S. steel industry to support national interests, marking yet another move toward protectionist policies amidst rising political opposition from union leaders and electoral pressures.
Source: YAHOO