Reported 3 days ago
President Biden opted to block a $14.1 billion takeover of U.S. Steel by Japan's Nippon Steel, siding with pro-union advocates to safeguard American manufacturing jobs. Despite the push from national-security aides for a way to approve the deal to maintain strong relations with Japan, Biden deemed the sale a risk to national security and critical supply chains. This decision aligns with his commitment to bolster domestic industries, even at the cost of diplomatic friction.
Source: YAHOO