The head of the U.S. Senate Banking Committee has called on the White House to investigate the relationship between Nippon Steel and the Chinese steel industry due to national security concerns. This comes as there is bipartisan opposition in Congress to Nippon Steel's $14.9 billion deal to acquire U.S. Steel Corp.
Senator Sherrod Brown urged President Biden to thoroughly investigate the allegations raised in a report by consultancy Horizon Advisory and to assess Nippon Steel's ties to the Chinese government
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