Reported 3 days ago
President Joe Biden has halted Nippon Steel's proposed $14.9 billion acquisition of US Steel due to national security risks. George Mason University's Jamil Jaffer highlights that the Committee on Foreign Investment in the United States (CFIUS) deferred the decision to the White House, despite the partnership with Japan being an ally. He emphasizes the need for the US to consider the impact of such deals on American jobs and the balance between collaborating with allies and maintaining domestic production capabilities.
Source: YAHOO