Citing national security concerns, President Joe Biden blocked the $15 billion international sale of U.S. Steel to Japanese company Nippon Steel on Jan. 3, 2025.
In a joint statement after the announcement U.S. Steel and Nippon Steel called Biden’s action political. The companies then filed a federal lawsuit against the administration and a U.S. competitor on Monday, Jan. 6, 2025, in hopes of salvaging the deal.
TribLive reporter Jack Troy joins digital producer Zac Gibson with details.
This is From the Newsroom.
Related:
• Nippon, U.S. Steel file 2 suits after Biden administration blocks $15 billion deal
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• Devastation, relief on spectrum of emotions for stakeholders in U.S. Steel sale after Biden’s block
• U.S. Steel, Nippon say Biden’s decision to block sale was ‘political’
• With U.S. Steel deal axed, economic experts question future of Mon Valley steelmaking
• What they’re saying about it: U.S. Steel-Nippon deal blocked
