Biden blocks U.S. Steel’s sale to Nippon, citing national security concerns

May Be Interested In:Viktor Antonov, the artist behind Half-Life 2’s City 17 and Dishonored, dies at 52


President Biden blocked the sale of U.S. Steel to Japan’s Nippon Steel.

Drew Angerer/Getty Images


hide caption

toggle caption

Drew Angerer/Getty Images

President Biden is blocking Nippon Steel’s $14.9 billion takeover of U.S. Steel, citing national security concerns.

Biden said in a statement that domestic ownership and control of steelmaking capacity is vital to both security and the resiliency of U.S. supply chains.

“Without domestic steel production and domestic steel workers, our nation is less strong and less secure,” Biden wrote. “We need major U.S. companies representing the major share of US steelmaking capacity to keep leading the fight on behalf of America’s national interests.”

The move marks an unusual exercise of presidential power to halt a commercial transaction with a key U.S. ally. It’s a win for the United Steelworkers union, which had strongly opposed the deal. President-elect Trump had also spoken out against the sale. U.S. Steel is headquartered in the politically-important swing state of Pennsylvania.

Despite its storied history, U.S. Steel is no longer the industrial giant it once was. The 124-year-old company is only the third largest steelmaker in the country, responsible for less than 20% of domestic steel production. An inter-agency committee that supervises foreign investment in the U.S. was unable to reach agreement on whether the sale posed a threat to national security, leaving the decision up to the president himself.

Nippon Steel lobbied hard to salvage the deal, promising to preserve domestic production. The company had also promised to invest nearly $3 billion in U.S. Steel’s aging blast furnaces in Pennsylvania and Indiana. Without that money, U.S. Steel has suggested it may shift its focus to non-union plants elsewhere, jeopardizing thousands of union jobs.

share Share facebook pinterest whatsapp x print

Similar Content

Missouri Abortions to Resume After Judge Blocks Restrictions
Missouri Abortions to Resume After Judge Blocks Restrictions
Mississauga, Ont., to host Canadian women's curling championship in 2026 | CBC Sports
Mississauga, Ont., to host Canadian women’s curling championship in 2026 | CBC Sports
Downing Street Rejects Donald Trump's Latest Comments About America's Relationship With The UK
Downing Street Rejects Donald Trump’s Latest Comments About America’s Relationship With The UK
US House votes to avert government shutdown as deadline looms
US House votes to avert government shutdown as deadline looms
New PlayStation State of Play Announced for Tomorrow
New PlayStation State of Play Announced for Tomorrow
NCLT orders the liquidation of Go First
NCLT orders the liquidation of Go First
The Big Picture: News That Defines Our Time | © 2025 | Daily News