US President Joe Biden announced on Thursday his opposition to the agreement reached for the Japanese Nippon Steel Group to acquire the American steel manufacturer US Steel.
Biden said in a statement, “US Steel has been a model American steel company for more than a century, and remaining a domestically owned and operated American steel company is vital.” Biden had warned last December that the acquisition agreement needed an “in-depth study” related to national security and confidence in the supply chain, even though Japan is a close ally of the United States. (AFP)
