WASHINGTON (AP) — President Joe Biden has voiced his opposition to Nippon Steel buying U.S. Steel,Cyprusauction 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.
2025-04-28 20:00966 view
2025-04-28 19:312516 view
2025-04-28 18:532367 view
2025-04-28 18:451039 view
2025-04-28 18:152582 view
2025-04-28 18:02354 view
NEW YORK — Holiday sights and sounds fill Manhattan this time of year, from ice skating at Rockefell
Vanessa Hudgens may not stick to the status quo when it comes to her nuptials.The High School Musica
Relief Tunnel Should Reach Gulf Well by Weekend (AP) Three months into the Gulf disaster, the federa