Final Thoughts

Cracks have formed in what has been presented as the Biden administration’s united front against Nippon Steel’s play for U.S. Steel. A report from the Financial Times said parts of the administration are at odds over the deal.

The FT reported that the Pentagon, the Treasury Department, and State Department see no national security risk to the transaction. Four people in the article, all anonymous, said US Trade Representative (USTR) Katherine Tai in particular opposed to the deal. Also, one person said the Commerce and Energy Departments have “reservations.”

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

Ethan Bernard

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