Biden Expected to Block U.S. Steel Takeover by Nippon

The Committee on Foreign Investment in the United States is anticipated to express national security apprehensions regarding the sale of the renowned steel manufacturer to Japan’s Nippon Steel. The potential acquisition has raised concerns about the impact on national security interests, prompting a closer examination by the committee. This move reflects the government’s commitment to safeguarding critical industries and technologies from foreign control. The outcome of this review will be crucial in determining the future ownership of the iconic steel producer and its implications for national security.

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