Nippon Blocked

4.9

11d

Nippon Steel's proposed acquisition of U.S. Steel faces significant opposition from the Biden administration, citing national security concerns and potential impacts on American jobs. Both President Biden and Vice President Harris have expressed their intent to block the merger.

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The Biden administration is preparing to block the proposed $14 billion acquisition of U.S. Steel by Japan's Nippon Steel due to national security concerns and the potential impact on American jobs. The merger has sparked significant debate, as the White House considers the implications for U.S. steel production and infrastructure initiatives. Administration officials worry that the sale could threaten the domestic steel supply, especially in light of ongoing infrastructure projects requiring steel imports ([Post-Gazette](https://www.post-gazette.com/business/powersource/2024/09/05/us-steel-nippon-biden-deal/stories/202409050111), [Marketscreener](https://www.marketscreener.com/quote/stock/NIPPON-STEEL-CORPORATION-6491235/news/Exclusive-US-worries-about-steel-supply-for-infrastructure-after-Nippon-US-steel-deal-47814222/)).

Vice President Kamala Harris has publicly expressed her opposition to the deal, emphasizing that U.S. Steel should remain American-owned ([Esquire](https://www.esquire.com/news-politics/politics/a62069018/biden-us-steel-nippon-deal/) and [Marketscreener](https://www.marketscreener.com/quote/stock/UNITED-STATES-STEEL-CORPO-14934/news/U-S-Steel-Jefferies-remains-Buy-reduces-target-47812098/)). The administration's stance reflects a rare bipartisan concern for safeguarding national interests in a critical industry, with both Republicans and Democrats voicing opposition to foreign control of U.S. steel production ([National Review](https://www.nationalreview.com/corner/republicans-and-democrats-unite-to-block-investment-in-america/)).

U.S. Steel's CEO has warned that the failure of the acquisition could lead to plant closures and job losses, emphasizing that the company’s financial viability is precarious without the investment from Nippon Steel ([Fox Business](https://www.foxbusiness.com/economy/us-steel-ceo-says-company-likely-close-steel-mills-proposed-14b-sale-nippon-steel-falls-through)). The deal faced scrutiny as the administration prepares to make a final decision amid broader concerns about the implications for the U.S. manufacturing sector and domestic job security ([NBC News](https://www.nbcnews.com/business/business-news/biden-preparing-block-us-steel-sale-japanese-company-rcna169595)).

Current Stats

Data

Virality Score 4.9

Change in Rank +2

Thread Age 11 days

Number of Articles 89

Political Leaning

Left 27.7%

Center 51.1%

Right 21.3%

Regional Coverage

US 62.8%

Non-US 37.2%

Recent Coverage

Japan's top business lobby on alert over US review of Nippon's bid for US Steel

marketscreenercom - 6 days ago - Japanese companies, especially those considering investing in the U.S., are closely watching Washington's review of Nippon Steel's proposed $15 billion acquisition of U.S. Steel, Japan's biggest...

Union chief assails U.S. Steel CEO and calls deal for company flawed

japantimescojp - 6 days ago - United Steelworkers President David McCall said he didn’t think the future of U.S. Steel hinged on Nippon Steel buying the company.

US warns against takeover of US Steel, citing security risks

marketscreenercom - 6 days ago - STORY: Washington is warning against Nippon Steel's takeover of U.S. Steel, saying it would create national security risks. That's according to a letter sent to the companies, and seen...

CFIUS warns against Nippon merger with US Steel, citing China steel glut

businessstandardcom - 6 days ago - The Committee on Foreign Investment said in its 17-page letter sent to Nippon Steel and US Steel, that decisions by Nippon could lead to a reduction in domestic steel production capacity

Deep divisions in battleground Pennsylvania over proposed sale of U.S. Steel to Japanese company

NBC news - 6 days ago - The sale and the possibility it could be nixed is pitting members of the same party — and even the same union — against each other in a key swing state.

U.S. warns against Nippon merger with U.S. Steel, citing China steel glut

CNBC - 6 days ago - Nippon Steel's proposed takeover of U.S. Steel would create national security risks from hurting steel supply for critical projects, the U.S. said in a letter.

Nippon Steel seeks to address government concerns on U.S. Steel deal

The Globe and Mail - 6 days ago - Joint letter states the company would commit to maintaining the American steel company’s current production

Explainer: Where does U.S. Steel's deal with Nippon Steel stand?

postgazettecom - 6 days ago - False

Exclusive-US worries about steel supply for infrastructure after Nippon-US steel deal

marketscreenercom - 6 days ago - Nippon Steel's proposed $14.9 billion takeover of U.S. Steel would create national security risks because it could hurt the supply of steel needed for critical transportation, infrastructure,...

Nippon Steel pushes back on national security concerns raised by Biden admin over US Steel purchase

Fox Business - 6 days ago - Nippon Steel and U.S. Steel are pushing back on reports their merger would undermine U.S. national security amid reports the Biden-Harris administration is preparing to block the deal.

White House Will Likely Scrap the U.S. Steel Takeover by Nippon Steel

inccom - 7 days ago - President Joe Biden opposed the blockbuster deal, and both GOP Candidate Donald Trump and Democratic nominee Kamala Harris have signaled their opposition, despite the Japanese bidder's entreaties.

Joe Biden Shoots Down U.S. Steel Takeover by Nippon Steel in a Boss Political Move

Esquire - 7 days ago - And you better believe the money power in this country knows it damn well.

US Steel Stock Price Volatile as Biden Reportedly Prepares To Block Takeover

Investopedia - 7 days ago - U.S. Steel shares rebounded somewhat Thursday, a day after plummeting on a report President Joe Biden intends to block its proposed $14 billion acquisition by Japanese firm Nippon Steel.

Biden preparing to block U.S. Steel sale to Japanese company

NBC news - 7 days ago - President Biden is preparing to announce that he will formally block Nippon Steel’s proposed $14.9 billion acquisition of U.S., sources tell NBC News.

Washington attacks on Nippon’s bid for U.S. Steel puts ally Japan’s spot on ‘friends and family list’ into doubt

Fortune - 7 days ago - President Joe Biden is reportedly set to block Nippon Steel's $14.9 billion acquisition of U.S. Steel on national security grounds.

Governments should not intervene in deals arbitrarily, Japanese PM candidate says of U.S. Steel takeover

The Globe and Mail - 7 days ago - Nippon Steel’s takeover of U.S. Steel is facing growing bipartisan political opposition amid upcoming presidential elections in the U.S.

Biden Expected To Block Nippon Steel Deal; US Steel Shares Plunge

International Business Times - 7 days ago - Amid the ongoing issue, U.S. Steel CEO David Burritt warned that if the acquisition isn't pushed through, thousands of U.S. union jobs could be at risk.

US Warned Nippon: US Steel Bid Poses National Security Risk

NewsMax - 7 days ago - The Biden administration told Nippon Steel in a letter its $14.9 billion acquisition of U.S. Steel would pose a national security risk by harming the American steel industry, three people said, adding to evidence the U.S. is poised to block it.

US Steel's proposed $14.9 billion merger with Nippon Steel

channelnewsasiacom - 7 days ago - (Corrects to add Timeline tag in headline, change dateline to Sept 5 from May 30):The White House is set to announce that President Joe Biden will block Nippon Steel's < 5401.T> $14.9 billion bid for the U.S. Steel citing national security concerns, two sources familiar with the situation told Reuters.

Japan miffed but reaction muted after shocking twist to U.S. Steel deal

japantimescojp - 7 days ago - U.S. President Joe Biden is set to reject Nippon Steel's acquisition of the American steelmaker, according to multiple unconfirmed reports released in recent days.

Washington prepares to block takeover of US steel by Japan's Nippon Steel

euronews - 7 days ago - Critics say that blocking the $15bn (€13.53bn) deal could risk thousands of jobs.