Biden to block $14.9 billion steel deal in huge blow to key U.S. ally

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Biden to block $14.9 billion steel deal in huge blow to key U.S. ally

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President Joe Biden will block Nippon Steel's proposed $14.9 billion acquisition of U.S. Steel, according to reports, in a blow to the key U.S. ally. Japan's play on a major American industry caused a massive political controversy ahead of the November presidential election, particularly in the battleground state of Pennsylvania, where U.S. Steel is based. Biden, Kamala Harris and Donald Trump have all voiced opposition to the deal. National Security Council spokesman John Kirby said he could not confirm the report.
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