In the final days of his administration, Biden blocking a $14.3 billion acquisition of US steel by Japan's Nippon Steel.
Category
🗞
NewsTranscript
00:00President Biden, not done yet. In the final days of his administration, Biden blocking a $14.3
00:08billion acquisition of U.S. steel by Japan's Nippon Steel. In a statement, Biden calling
00:15the U.S. steel workers the backbone of our nation, adding a strong domestically owned
00:21and operated steel industry represents an essential national security priority
00:27and is critical for resilient supply chains. President-elect Trump also opposes the deal
00:34and has suggested he too would block it once taking office. U.S. Steel and Nippon argue the
00:39deal is necessary to provide needed investment for the domestic steel industry. U.S. Steels
00:47claimed it would need to shut down mills around the country if the deal were blocked.