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President Joe Biden believes “serious scrutiny” is warranted for the planned acquisition of U.S. Steel by Japan's Nippon Steel, the White House said Thursday...
WASHINGTON — President Joe Biden believes “serious scrutiny” is warranted for the planned acquisition of U.S. Steel by Japan’s Nippon Steel, the White House said Thursday after days of silence on a transaction that has drawn alarm from the steelworkers union. Lael Brainard, the director of the National Economic Council,
WASHINGTON :The White House on Thursday said Nippon Steel Corp's $14.9 billion proposed acquisition of U.S. Steel Corp deserves "serious scrutiny," given the company's core role in U.S. steel production that is critical to national security.In its first substantive statement on the deal, the White House said
The combined company will be among the top three steel-producing companies in the world, according to 2022 figures from the World Steel Association.
As opposition from Steelmakers union mounts.