The federal government is not rushing to block Japan’s Nippon Steel from buying U-S Steel. President Biden opposes the deal and wants to formally block the acquisition. But the necessary report from the government’s Committee on Foreign Investment in the United States has yet to be submitted to the White House. U-S Steel is headquartered […]
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Federal gov’t not rushing to block Japanese takeover of U.S. Steel
The federal government is not rushing to block Japan’s Nippon Steel from buying U-S Steel. President Biden opposes the deal and wants to formally block the acquisition. But the necessary report from the government’s Committee on Foreign Investment in the United States has yet to be submitted to the White House. U-S Steel is headquartered in Pittsburgh and the proposed takeover carries some political weight during an election year. Pennsylvania is the biggest electoral vote prize among the battleground states. In addition to the president, Vice President Harris and former President Trump have also come out against the deal.