Biden blocks USS deal, Nippon hints at legal action

President Joe Biden has blocked Nippon Steel’s proposed buy of Pittsburgh-based U.S. Steel, citing national security reasons. Reacting to the deal, the Japanese steelmaker has signaled it may pursue legal action against the US government.

Recall the $14.9-billion deal by Nippon was first proposed in December 2023. It faced mounting opposition from many politicians, as well as the United Steelworkers (USW) union. Both President Biden and President-elect Trump had voiced their opposition.

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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