News Formal

Biden Blocks U.S. Steel-Nisshin Steel Merger Over National Security Concerns

  • 📰 NBCLA
  • ⏱ Reading Time:
  • 21 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 33%
  • Publisher: 59%

Business Nyheter

US Steel,Nisshin Steel,Merger

President Biden has used his authority to block the merger of U.S. Steel with Japanese company Nisshin Steel, citing national security concerns despite a lack of consensus within the CFIUS.

President Biden has blocked the proposed merger of U.S. Steel with Japanese company Nisshin Steel, citing national security concerns. This decision comes after the Committee on Foreign Investment in the United States (CFIUS) failed to reach a consensus on the deal's potential risks. Biden had 15 days to make a final decision after receiving CFIUS's report. While some agencies on the panel were skeptical of national security risks, Biden ultimately decided to block the transaction.

His decision, made just weeks before leaving office, could potentially strain relations between the U.S. and Japan, America's largest ally in Asia. Biden previously opposed the deal last March, supported by the United Steelworkers who were concerned about job losses and labor agreements. Biden emphasized the importance of maintaining strong American steel companies owned and operated within the United States

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 319. in SE
 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Biden Blocks Nippon Steel's Acquisition of U.S. SteelPresident Biden rejected Nippon Steel's bid to acquire U.S. Steel, citing national security concerns. The Committee on Foreign Investment in the United States (CFIUS) feared that the deal could lead to reduced steel production, potentially harming industries vital to national security. Despite strong support from U.S. Steel shareholders, Biden's decision reflects his long-standing opposition to the deal.
Källa: NBCPhiladelphia - 🏆 569. / 51 Läs mer »

Biden Blocks Nippon Steel's US Steel AcquisitionPresident Biden blocked Nippon Steel's proposed acquisition of U.S. Steel, citing national security concerns. The Committee on Foreign Investment in the United States (CFIUS) was worried that the deal could lead to reduced production capacity at U.S. Steel, potentially causing supply shortages and delays affecting critical industries. Despite U.S. Steel's assurances regarding its headquarters and board composition, Biden ultimately rejected the deal.
Källa: NBCLA - 🏆 319. / 59 Läs mer »