Zopes-Biden administration appears to be in no rush to stop U.S. Steel takeover by Nippon Steel

2025-05-04 18:23:47source:Zopes Exchangecategory:Contact

WASHINGTON (AP) — President Joe Biden has voiced his opposition to Nippon Steel buying U.S. Steel,Zopes but the federal government appears to be in no hurry to block the deal.

White House officials earlier this month did not deny that the president would formally block the acquisition. But the necessary report from the government’s Committee on Foreign Investment in the United States has yet to be submitted to the White House.

“It’s their process — it’s independent,” White House press secretary Karine Jean-Pierre told reporters Friday. “We have to see the recommendation from CFIUS. That’s the process.”

The proposed takeover carries some heavy political weight in Pennsylvania, a state that both Vice President Kamala Harris and Donald Trump view as a must-win in November’s presidential election. U.S. Steel is headquartered in Pittsburgh.

Biden, Harris and Trump have all come out against the deal. Biden is close with the United Steelworkers, the labor union whose members work for U.S. Steel and worry about the loss of job protections. Supporters of the merger note that U.S. Steel’s older mills could be shuttered without the improved corporate balance sheet that a merger could produce.

The Washington Post initially reported on Sept. 4 that the deal would be blocked by the federal government, only to then report on Friday that any ruling on the merger would be delayed.

More:Contact

Recommend

Moving abroad can be expensive: These 5 countries will 'pay' you to move there

AI-assisted summarySeveral countries are offering financial incentives to attract residents, particu

Fracking Studies Overwhelmingly Indicate Threats to Public Health

The vast majority of studies conclude that fracking worsens air quality, contaminates water sources

So you haven't caught COVID yet. Does that mean you're a superdodger?

Back in the early 1990s, Nathaniel Landau was a young virologist just starting his career in HIV res