President Joe Biden speaks at the Pieper-Hillside Boys & Girls Club Wednesday, March 13, 2024, in Milwaukee. President Joe Biden is coming out in opposition to the planned sale of U.S. Steel to Nippon Steel of, saying in a statement to be released Thursday that the U.S. needs to "maintain strong American steel companies powered by American steel workers.”
Nippon Steel announced in December that it planned to buy the Pittsburgh-based steel producer for $14.1 billion in cash, raising concerns about what the transaction could mean for unionized workers, supply chains and U.S. national security. Biden has a big megaphone to weigh in on the matter, but he is not intervening in the review process or formally blocking the deal, according to a person familiar with deliberations who insisted on anonymity to discuss the situation.
Source: News Formal (newsformal.com)
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