🔁Mario Nawfal:
🚨🇺🇸BIDEN FORMALLY BLOCKS JAPAN’S NIPPON STEEL FROM BUYING US STEEL
Biden has officially blocked the $14B takeover of U.S. Steel by Japan’s Nippon Steel, citing national security risks.
The Pennsylvania-based steel giant, an icon of American industry, became a political battleground as Biden and Trump both opposed foreign ownership.
The decision has sparked debate, with Nippon threatening legal action and some arguing the move could harm US Steel’s future investments and jobs.
Critics worry it may deter foreign investments, while supporters see it as protecting a vital American industry.
Source: Reuters
https://x.com/MarioNawfal/... https://x.com/MarioNawfal/...
🚨🇺🇸BIDEN FORMALLY BLOCKS JAPAN’S NIPPON STEEL FROM BUYING US STEEL
Biden has officially blocked the $14B takeover of U.S. Steel by Japan’s Nippon Steel, citing national security risks.
The Pennsylvania-based steel giant, an icon of American industry, became a political battleground as Biden and Trump both opposed foreign ownership.
The decision has sparked debate, with Nippon threatening legal action and some arguing the move could harm US Steel’s future investments and jobs.
Critics worry it may deter foreign investments, while supporters see it as protecting a vital American industry.
Source: Reuters
https://x.com/MarioNawfal/... https://x.com/MarioNawfal/...
3 days ago
